Sheng Siong    Last:3.04    -0.04

Sheng Siong

Sheng Siong Group delivers a Net Profit of S$32.9 (-4.5% yoy)
million for 3Q FY2022 as its sales taper to the new
normal

- Revenue is down 4.2% yoy from the high base in 2021, despite the net increase
of 2 stores in Singapore.
- Gross profit margin for 3Q FY2022 grew by 0.4% to 29.4% driven by a favorable
sales mix of products with higher margins
-The Group continues to be on the lookout for viable retail space in new and existing
housing estates...

https://links.sgx.com/1.0.0/corporate-announcements/T4SKOZ69ZE56MWKK/735639_SSG%20-%203Q%20FY2022%20-%20Media%20Release.pdf

 

 

why surprised? mayhe he' s expecting 60mths bonus and not 16 mths...SS can well afford it...

Joelton      ( Date: 22-Sep-2022 09:12) Posted: Sheng Siong' s CFO resignation a ' surprise' , no ' potential red flags' at this point: DBS   DBS Group Research has kept its &ldquo buy&rdquo call and target price of $1.76 after Sheng Siong Group&rsquo s (SSG) chief financial officer (CFO), Joanne Chua, resigned.   According to the bourse filing dated Sept 19, Chua resigned to &ldquo pursue [her] personal interests&rdquo .   The news came as a surprise to the analysts at DBS, considering Chua&rsquo s appointment was just made on April 1, 2021.   On the same day, however, Sheng Siong Group announced the appointment of Fan Hongbo as the financial controller of the company. The analysts at DBS pointed out that the description of Fan&rsquo s role is similar to that in Chua&rsquo s announcement.   At the time of her appointment, Chua had almost four decades of work experience, of which 22 of them was in the fast-moving consumer goods (FMCG) industry.   The group&rsquo s audit and risk, and nominating committees concluded that there are &ldquo no material reasons&rdquo for Chua&rsquo s resignation.   In the same filing, it was revealed that Chua&rsquo s last day with the group will be on Feb 28, 2023. The long notice period of around five months was &ldquo likely timed&rdquo to coincide with the release of Sheng Siong&rsquo s FY2022 results, which should be reported on the Singapore Exchange (SGX) by the end of February in 2023.   Sheng Siong&rsquo s FY ends on Dec 31.   The long notice period also provides a good lead time for Fan to assume her duties.   &ldquo We do not see any potential red flags at this juncture,&rdquo the DBS team writes. &ldquo Despite a slight easing of topline in [Sheng Siong&rsquo s] 2QFY2022 by 7.4% y-o-y, this was on the back of a high base effect in 2021 due to in-home consumption as Covid-19 restrictions were still prevalent then.&rdquo   &ldquo Notwithstanding that, we believe Sheng Siong&rsquo s operations [are] likely to remain relatively stable with surging inflation that bites consumers&rsquo wallet, thus prompting a moderation in dine-out in favour of more affordable in-home consumption,&rdquo the team adds.

 

 

war or no war, people stil need to eat...

Joelton      ( Date: 01-Sep-2022 08:40) Posted: Sheng Siong, Delfi among Asean winners from inflationary pressures: DBS   DESPITE the overhanging pressures from an inflationary economic environment, several retailers with exposure in Indonesia and Thailand have surprised with higher revenues year on year due to higher sales and the ability to pass on higher costs to consumers.   However, this had only partially mitigated the effects of inflation as gross margins softened. While commodity prices have retreated in the recent months, the positive effects on margins will likely only be seen by Q4 this year or early 2023 due to lagged effect of pass through.   For this reason, DBS in its report on Wednesday (Aug 31) selected its top picks in the consumer sector based on 3 themes: safer staple companies benefiting from inflation and/or its ability to pass on costs, reopening and domestic recovery as well as those with earnings upside surprises with valuation below its historical average.   Of Asean&rsquo s consumer staples, the research house likes Sheng Siong : OV8 -1.22% as they maintained a &ldquo buy&rdquo with a target price of S$1.76 on the stock. This comes as Sheng Siong&rsquo s earnings were largely in line with DBS&rsquo expectations for H1 2022, and analysts believe a silver lining for the grocery players could come from a shift towards in-home consumption to combat surging prices amidst the climbing core inflation.   DBS analysts were also optimistic on Indonesian consumer Delfi over the strong sales and margins it reported in its half-year results this year. They raised their forecasts on the group&rsquo s FY22 and FY23 earnings by 23 per cent and 16 per cent respectively, while maintaining a &ldquo buy&rdquo call on the counter with a target price of S$1.31.   Potential buys among discretionary companies in the region include Indonesia retailer Mitra Adiperkasa as well as Thailand&rsquo s Siam Wellness. The analysts liked these 2 companies as they noted a better than expected performance on the back of reopening and easing restrictions in their respective geographies.   Mitra has a &ldquo buy&rdquo recommendation from DBS with a target price of 1,240 rupiah (S$0.12).   &ldquo With economies and governments learning to cope with Covid-19 and restrictions fast easing, there is optimism with improving consumer sentiment,&rdquo said the analysts in their report.   DBS economists also expect most Asean economies, save for Singapore, to register gross domestic product (GDP) growth at a faster clip compared to 2021.   However, the impact of inflation on consumer demand is still worth noting, they added.

 

 

smart

Luckygal      ( Date: 26-Aug-2022 09:53) Posted: I sell first, buy back later.

 

I sell first, buy back later.

 

Any shifu here hav any idea y a sudden increase in price on 25/08?? thanks...

 

which is not too bad already......
staff fr ntuc, CS, Prime, Haomart all ready 2 run....

MrDonkey      ( Date: 29-Jul-2022 14:02) Posted: Since it' s not a big profit dip, it makes sense that they get almost the same bonus if put it that way.  tongphlp      ( Date: 29-Jul-2022 13:51) Posted: hmm....will their employees get 20 months bonus

 

Since it' s not a big profit dip, it makes sense that they get almost the same bonus if put it that way. 

tongphlp      ( Date: 29-Jul-2022 13:51) Posted: hmm....will their employees get 20 months bonus? Joelton      ( Date: 29-Jul-2022 09:00) Posted: Sheng Siong Group sees 2.2% higher earnings of $67.4 mil for 1HFY2022 Sheng Siong Group has reported earnings of $67.4 million for the 1HFY2022 ended June, 2.2% higher than earnings of $65.9 million in the same period the year before.   The higher earnings came despite a 0.7% y-o-y dip in 1HFY2022 revenue of $676.8 million as Covid-19 measures were lifted in the 2QFY2022.   Amid the lifting of measures, this led to an increase in outdoor dining and overseas travel, which saw sales revenue returning to more normalised levels before the pandemic.   That said, gross profit for the period increased by 3.4% y-o-y to $199.1 million on the back of a 1.2 percentage point increase in gross profit margin (GPM).   GPM for the 1HFY2022 stood at 29.4%.   During the period, other income fell by 27.3% y-o-y to $5.5 million mainly due to the reduction in government grants.   Net profit for the half-year period increased by 2.1% y-o-y to $67.5 million on the back of a 0.3 percentage point increase in net profit margin (NPM), which stood at 10.0%.   As at June 30, cash and cash equivalents stood at $234.3 million.   Looking ahead, the group says it sees the global inflationary pressures as leading to consumers tightening their belts.   See also: Jardine Cycle & Carriage reports record underlying earnings of US$522 mil for 1HFY2022   This, in turn, may lead to consumers preparing meals at home more frequently or look towards house brand products for affordable value to ease the inflationary pressures.   The group has declared an interim dividend of 3.15 cents per share for the 1HFY2022, up from the previous interim dividend of 3.1 cents per share.   The dividend will be payable on Aug 31.   &ldquo The group continues to prospect for potential spaces, especially in new HDB estates where it does not have a presence. With the loosening of Covid-19 restrictions and the gradual recovery of the Singapore economy, construction of HDB projects is back on track and bringing about more store-opening opportunities,&rdquo says Lim Hock Chee, CEO of the group.   &ldquo The group is also seeking to continuously improve on its operating efficiency and productivity to counter competition and rising costs from global inflationary pressures,&rdquo he adds.

 

hmm....will their employees get 20 months bonus?

Joelton      ( Date: 29-Jul-2022 09:00) Posted: Sheng Siong Group sees 2.2% higher earnings of $67.4 mil for 1HFY2022 Sheng Siong Group has reported earnings of $67.4 million for the 1HFY2022 ended June, 2.2% higher than earnings of $65.9 million in the same period the year before.   The higher earnings came despite a 0.7% y-o-y dip in 1HFY2022 revenue of $676.8 million as Covid-19 measures were lifted in the 2QFY2022.   Amid the lifting of measures, this led to an increase in outdoor dining and overseas travel, which saw sales revenue returning to more normalised levels before the pandemic.   That said, gross profit for the period increased by 3.4% y-o-y to $199.1 million on the back of a 1.2 percentage point increase in gross profit margin (GPM).   GPM for the 1HFY2022 stood at 29.4%.   During the period, other income fell by 27.3% y-o-y to $5.5 million mainly due to the reduction in government grants.   Net profit for the half-year period increased by 2.1% y-o-y to $67.5 million on the back of a 0.3 percentage point increase in net profit margin (NPM), which stood at 10.0%.   As at June 30, cash and cash equivalents stood at $234.3 million.   Looking ahead, the group says it sees the global inflationary pressures as leading to consumers tightening their belts.   See also: Jardine Cycle & Carriage reports record underlying earnings of US$522 mil for 1HFY2022   This, in turn, may lead to consumers preparing meals at home more frequently or look towards house brand products for affordable value to ease the inflationary pressures.   The group has declared an interim dividend of 3.15 cents per share for the 1HFY2022, up from the previous interim dividend of 3.1 cents per share.   The dividend will be payable on Aug 31.   &ldquo The group continues to prospect for potential spaces, especially in new HDB estates where it does not have a presence. With the loosening of Covid-19 restrictions and the gradual recovery of the Singapore economy, construction of HDB projects is back on track and bringing about more store-opening opportunities,&rdquo says Lim Hock Chee, CEO of the group.   &ldquo The group is also seeking to continuously improve on its operating efficiency and productivity to counter competition and rising costs from global inflationary pressures,&rdquo he adds.

 

 

Results better than expected.

 

Sheng Siong Group?s net profit increased 2.1% yoy to
S$67.5 million for 1H FY2022

? Revenue decreased 0.7% yoy to S$676.8 million, largely attributed to the easing
of pandemic measures and increased overseas travel
? Gross profit margin improved 1.2 percentage points to 29.4% from a change in
sales mix
? The Group declared an interim dividend of S$0.0315 per share, an increase from
S$0.031 for 1H FY2021

https://links.sgx.com/1.0.0/corporate-announcements/099PJWTVBED9TQBJ/725193_SSG%20-%201HFY2022%20-%20Press%20Release.pdf

 

early signs of 2020 lockdown effect

 

Slowly climbing the ladder!

 

yah..So Shiok....allow me to eat Shake Shack..

whereru      ( Date: 06-Jul-2022 11:57) Posted: Strong breakout today...

 

Strong breakout today...

 

KGI Research
Sheng Siong Group (SSG SP): High inflation expectations to provide second tailwind
BUY Entry 1.55 &ndash Target &ndash 1.65 Stop Loss &ndash 1.50