Higher cashflow renews hope for Super Group

SINGAPORE (Aug 15): UOB Kay Hian is maintaining its “hold” call on Super Group with a lower target price of 80 cents from 85 cents previously. 

Last week, the food manufacturer and distributor posted a 7% fall in 2Q16 earnings to $9.8 million from $10.5 million a year ago in 2Q15, with net profit impacted mainly by lower 1H revenue as well as higher selling & distribution (S&D) expenses and general and administrative expenses.

(See Super Group posts 7% fall in 2Q earnings)

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