Higher 2H earnings in the basket for Sheng Siong?

SINGAPORE (8 Sept): Sheng Siong Group is expected to pick up higher earnings in 2H16 according to Daiwa Capital Markets, which has maintained its “overweight” call in a Thursday report.

While Sheng Siong’s management expects a decline in the second half with overall consumer spending in Singapore remaining cautious, the company expects a 6% to 8% on-year revenue growth according to analyst Jame Osman. Daiwa Capital Markets is forecasting a 7.7% on-year growth.

(See also: Sheng Siong posts 11.3% rise in 2Q earnings from new stores)

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