Sheng Siong's Staff Costs Could Remain High This Year

Dow Jones

2025/03/20

Sheng Siong Group's staff costs could remain high this year, due to more headcount from new store openings, say UOB Kay Hian analysts in a note.

The supermarket-chain operator is awaiting tender results for additional new outlets, they write.

Costs could also be weighed by higher wages under a government wage structure, they say.

UOB KH trims its 2025 and 2026 earnings forecast for Sheng Siong by around 2% to reflect higher staff costs from more store openings.

The brokerage also lowers the stock's target price to S$1.92 from S$1.93, while maintaining a buy rating.

Shares closed at S$1.62.

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The supermarket-chain operator is awaiting tender results for additional new outlets, they write. Costs could also be weighed by higher wages under a government wage structure, they say. UOB KH trims its 2025 and 2026 earnings forecast for Sheng Siong by around 2% to reflect higher staff costs from more store openings. The brokerage also lowers the stock's target price to S$1.92 from S$1.93, while maintaining a buy rating. Shares closed at S$1.62.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"OV8.SI":"昇菘"},"translate_title":"升菘今年的员工成本可能仍然很高","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OV8.SI":1.1},"content_text":"Sheng Siong Group's staff costs could remain high this year, due to more headcount from new store openings, say UOB Kay Hian analysts in a note. The supermarket-chain operator is awaiting tender results for additional new outlets, they write. 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