Sheng Siong

Re: Sheng Siong

Postby winston » Thu Feb 25, 2016 10:29 am

not vested

Sheng Siong Group: New stores remain as crucial drivers

Sheng Siong Group (SSG) reported a set of FY15 results that came in within our expectations.

FY15 revenue increased 5.3% to ~S$764.4m, meeting 99% of our FY15 estimate.

Net profit also grew 19.3% to S$56.8m, making up 103% of our full-year forecast.

Our estimate had also incorporated ‘other income’ of ~S$9m. FY16 will continue to be supported by new stores, with a new store in Yishun Junction 9 (minimum area of 10k sq ft) and one in Circuit Road (3.5k sq ft).

But this will be partially offset by closure of Loyang store (6k sq ft) in 2Q16 and Tampines store (9.8k sq ft) in 4Q16, as well as potential drag from old stores (4Q: -1.7% YoY).

We believe core business growth remains intact for FY16, maintain BUY, with unchanged DCF-derived FV of S$0.95.

A higher final DPS of 1.75 S-cents was declared, bringing total DPS to 3.5 S-cents vs. 3.0 S-cents last year.

Source: OCBC
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Re: Sheng Siong

Postby winston » Mon Mar 28, 2016 11:11 am

Sheng Siong Group: Heartland revitalisation may benefit

In this year’s budget, as part of efforts to address immediate concerns, one enhanced initiative announced is the Revitalisation of Shops package, which aims to support promotional activities and upgrading projects in HDB town centres and neighbourhood centres.

With Sheng Siong Group (SSG) in mind, we note that most of their stores are located in HDB blocks. While they may benefit from such initiatives by enjoying potentially higher footfall for instance, besides the downtime experienced if they are directly involved, the general ‘revitalisation’ of the community could lure its competitors to the area as well.

In the face of stronger competition among grocery retailers, especially through marketing strategies, we see further initiatives to improve efficiency for its operations at its distribution centre as well as on a store level. With a steady performance expected for 2016, maintain BUY with fair value estimate of S$0.95.

Source: OCBC
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Re: Sheng Siong

Postby winston » Tue Jun 28, 2016 11:13 am

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Sheng Siong Group: A defensive stock

In view of the near-term volatility and longer term potential repercussions from Brexit, we highlight Sheng Siong Group as our preferred pick in the consumer sector.

We recommend the stock due to several reasons. It is relatively defensive as a consumer staples company, and with its current earnings solely exposed to Singapore, there should not be material immediate implications.

While SSG’s first store in China is slated to open around 4Q16, we do not expect significant changes to its earnings profile in the near term.

We believe the stock still retains stability in its market share and margins, and with a ~4% dividend yield, we reiterate our BUY rating, with fair value estimate of S$0.95 unchanged.

Source: OCBC
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Re: Sheng Siong

Postby behappyalways » Wed Jul 27, 2016 4:48 pm

Sheng Siong riding on record 2Q gross margins
http://sgx.i3investor.com/servlets/fdnews/62416.jsp
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Re: Sheng Siong

Postby behappyalways » Tue Nov 22, 2016 12:27 pm

Investors wary over Sheng Siong's upcoming store closures
http://sbr.com.sg/retail/news/investors ... e-closures
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Re: Sheng Siong

Postby behappyalways » Wed Dec 21, 2016 2:25 pm

Guess why the new kid on the block is giving Sheng Siong headaches
http://sbr.com.sg/retail/news/guess-why ... -headaches
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Re: Sheng Siong

Postby behappyalways » Tue Jan 24, 2017 6:53 pm

Sheng Siong locks horns with smaller players for HDB sites
http://sbr.com.sg/retail/news/sheng-sio ... -hdb-sites
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Re: Sheng Siong

Postby behappyalways » Tue Feb 07, 2017 7:11 pm

Maturing stores to offset Sheng Siong's losses from outlet closures
http://sbr.com.sg/retail/news/maturing- ... t-closures
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Re: Sheng Siong

Postby behappyalways » Sat Feb 25, 2017 7:12 pm

Sheng Siong full year earnings grow 10.3% to $62.7 mil
http://www.theedgemarkets.com.sg/articl ... 03-627-mil
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Re: Sheng Siong

Postby behappyalways » Sat Apr 29, 2017 6:32 pm

Sheng Siong 1Q earnings up 4.4% to $17.1 mil on higher revenue from new stores
http://www.theedgemarkets.com.sg/sheng- ... new-stores
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