- As the cost of living rises, consumers may shift toward Sheng Siong’s value-for-money products. Sheng Siong also continues to actively seek store opening opportunities in areas where it lacks a presence. Maintain BUY with an unchanged Sheng Siong's target price of S$1.88.
1Q24 results in line
- - Read this at SGinvestors.io -
- The top-line growth comes from higher comparable same-store sales by 8% y-o-y and 0.1% y-o-y in Singapore and China respectively. Of the 8% growth in Singapore stores, 3.6% is contributed by 63 matured stores, while the remaining 4.4% is by four stores opened in 2022.
- - Read this at SGinvestors.io -
Gross margin continues to tick upward; higher operating expenses from staff bonus.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-05-23
Read also UOB's most recent report:
2024-08-20 Sheng Siong - Record-High Gross Margin in 2Q24; More Stores Slated To Open.
Price targets by 2 other brokers at Sheng Siong Target Prices.
Listing of research reports at Sheng Siong Analyst Reports.
Relevant links:
Sheng Siong Share Price History,
Sheng Siong Announcements,
Sheng Siong Dividends & Corporate Actions,
Sheng Siong News Articles
