- Sheng Siong (SGX:OV8)'s 1H24 revenue came in at S$714mil and earnings at S$70mil, up 3% and 7% y-o-y, respectively. Revenue growth was largely driven by comparable same-store sales growth of 6.4% y-o-y, offset by lower new store sales contribution, which was down 2.9%.
China sales declined by 0.1% on higher competition.
- - Read this at SGinvestors.io -
- Nonetheless, Sheng Siong provides a unique value proposition in terms of better hygiene and concept innovation with the Sheng Siong Plus concept that has a wider range of offerings for customers.
2Q24 revenue and earnings came in at S$338mil and S$34mil, up 1% and 5% y-o-y, respectively.
- - Read this at SGinvestors.io -
Declared 3.2 cents interim dividend.
- Sheng Siong increased its dividend (vs. 3.07 cents in 1H23), in line with higher earnings, at a 4% y-o-y increase. It continued to maintain its payout ratio of ~70%. See Sheng Siong's dividend dates.
Jump in number of HDB supermarkets up for tender.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Zheng Feng CHEE DBS Group Research | Andy SIM CFA DBS Research | https://www.dbs.com/insightsdirect/ 2024-07-31
Previous report by DBS:
2023-10-30 Sheng Siong Group - Sourcing The Best Deals For Customers.
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
