same store sales growth (SSSG)

Sheng Siong kept at 'buy' for defensive stance in supermarket space

SINGAPORE (Feb 27): Sheng Siong is a “buy” for most research houses.

Sheng Siong on Monday announced that its FY18 earnings increased by 1.4% y-o-y to $70.8 million, on the back of a 7.4% increase in FY18 revenue to $890.0 million

For 4Q18, earnings increased by 4.2% to $27.5 million, while revenue saw a 10.7% increase to $221.8 million, due largely to contributions from new stores.

Japan Foods cut to 'neutral' for breather after 8% share price rise ytd

SINGAPORE (Nov 12): RHB Research is downgrading its call on Japan Foods to “neutral” from “buy” with a lower target price of 48 cents compared to 58 cents previously, as it believes the group’s share price could “take a breather” after delivering 8.3% YTD returns and outperforming the STI Index by 17.4%.

The research house nonetheless continues to like Japan Foods for its strong balance sheet, thriving Japanese restaurant franchise as well as the ability to successfully launch new brands.

Sheng Siong likely to see stellar FY19F as growth momentum continues: DBS

SINGAPORE (July 31): DBS Group Research is maintaining its “buy” call on Sheng Siong Group (SSG) with a higher target price of $1.26, implying 25 times FY19F earnings.

The valuation is pegged at +1 standard deviation (SD) point of SSG’s historical mean valuation since listing, and below regional peers’ average of 26 times earnings.

See: Sheng Siong posts 6.3% rise in 2Q earnings to $17.2 mil on higher sales

Why Sheng Siong is likely to remain resilient amid keen competition

SINGAPORE (July 14): OCBC Investment Research continues to rate Sheng Siong Group (SSG) at “buy” with an unchanged fair value estimate of $1.15, pending the supermarket chain operator’s release of its 2Q17 results in the coming weeks.

In a Friday report, lead analyst Jodie Foo says that while Singapore’s May 2017 retail sales data “depicted a generally unexciting picture”, supermarket sales were stable with a 0.8% growth y-o-y.

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