Sheng Siong Can Keep Increasing Earnings Margins -- Market Talk

Dow Jones2022-08-04

0334 GMT - Sheng Siong Group's earnings margins have scope to continue rising, based on its 1H results, OCBC Investment Research analyst Chu Peng says in a research report. The supermarket operator's gross profit margin rose 1.2 percentage points in 1H, mostly due to an improved sales mix of higher-margin products, and it will likely continue to boost margins via initiatives such as increasing the types of house-brand products it offers, the analyst says. After opening two new stores in Singapore in 1H, the company plans to open another store in 3Q. Chu Peng raises the stock's fair-value estimate to S$1.71 from S$1.62 and maintains a hold rating. Shares are unchanged at S$1.60. (ronnie.harui@wsj.com)

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August 03, 2022 23:35 ET (03:35 GMT)

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KPL
2022-08-07
KPL
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2022-08-04
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