Delfi's Earnings Margins May Face Minimal Pressure From High Cocoa Prices -- Market Talk

Dow Jones04-11

0713 GMT - Delfi's earnings margins may face minimal pressure from high prices of its key ingredient cocoa, RHB Research analyst Alfie Yeo says in a research report. The Singapore-listed chocolate confectionery manufacturer would likely have up to 12 months of inventory locked in at lower cocoa prices, the analyst notes. Its 2024 margins shouldn't be substantially affected, thanks to its forward-purchase strategy and current inventory drawdown, the analyst says. Delfi may also seek to defend its margins, particularly from 2025, by implementing price adjustments and right-sizing strategies, the analyst adds. RHB has a buy rating and a target price of S$1.33 on the shares, which are 0.5% lower at S$0.92. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 11, 2024 03:13 ET (07:13 GMT)

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