In a Thursday report, lead analyst Jodie Foo notes steady margins and decent core operating profit growth for the group over the last quarter, and expects the factors behind gross profit margin (GPM) to remain supportive of keeping within a range of 25-26% for the full year.
SINGAPORE (May 4): OCBC Investment Research is reiterating its “buy” recommendation on Sheng Siong Group (SSG) with a fair value estimate of $1.15, after the supermarket chain operator’s recent set of 1Q17 results came in line with the research house’s expectations.
(See also: Sheng Siong 1Q earnings up 4.4% to $17.1 mil on higher revenue from new stores)
