Sheng Siong & DFI Retail - RHB Research 2025-01-21: Earnings Growth On Track; OVERWEIGHT

• We maintain an OVERWEIGHT rating on the Singapore grocery retailer segment, with BUY calls on Sheng Siong and DFI Retail.
• - Read this at SGinvestors.io -
• 19% for DFI Retail.

3Q24 numbers above estimates on better cost control and operating leverage.

• Grocery retailers chalked stronger-than-expected results as a result of their wider margins. Sheng Siong recorded a higher gross profit margin and progressive wage credit grants from the Government, while DFI Retail turned in better profitability on a better product mix and cost control, especially for its Singapore’s food division.

Sector growth driven by cost efficiencies and new outlets.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

More views on outlook of consumer sector:
Analyst Reports on Singapore Consumer Sector