In today’s briefing:
- Sheng Siong Group (SSG SP) Q1 2024: Making a Strong Case for Growth This Year
Sheng Siong Group (SSG SP) Q1 2024: Making a Strong Case for Growth This Year
- Q1 FY24 revenues/profits were up 5.5%/9.3% YoY as inflationary pressure in Singapore force consumers to adopt cost-cutting measures like eating at home and shopping in supermarkets with value for money.
- Cash continued to pile on the balance sheet with >350 mn SGD ( now almost 15% of market capitalization). Capital allocation (besides a 70% pay out ratio) is key now.
- Trading at 16.5x PE with ROEs consistently over 25% and a dividend yield of 4.3%, this is one of the rare quality companies in Singapore worth exploring
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