Earnings Report /

Sheng Siong Group Ltd: Sales normalising, but with exceptional margins

  • 1H22 PATMI beat expectations at 59% of our FY22 forecast.

  • Gross margins surprised on the upside, a record 30.2% in 2Q22 (2Q21: 28.8%).

  • A 5% net increase in store footprint will be supportive of revenue in 2H22.

Paul Chew
Paul Chew

Head of Research

1 August 2022
Published byPhillipCapital


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