Food Empire's Revenue Seen Weighed by Headwinds -- Market Talk

Dow Jones

2024-09-06

0520 GMT - Food Empire's earnings may remain weighed by higher global coffee prices and higher costs due to the ongoing Russia-Ukraine conflict, UOB Kay Hian analysts write in a note. Revenue of the food-manufacturing company, which exports its products to Russia, may continue to be affected by a weaker ruble and high inventory levels in the country, they note. UOB KH expects gross margins to remain muted at 29%-30% over 2024-2026. UOB KH lowers its dividend forecast to S$0.05/share from S$0.10/ as it no longer expects a special dividend payout in 2024 amid near-term headwinds and the need to finance new production facilities. It downgrades the stock's rating to hold and trims target to S$1.00 from S$1.30. Shares are at S$0.987.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

September 06, 2024 01:20 ET (05:20 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Revenue of the food-manufacturing company, which exports its products to Russia, may continue to be affected by a weaker ruble and high inventory levels in the country, they note. UOB KH expects gross margins to remain muted at 29%-30% over 2024-2026. UOB KH lowers its dividend forecast to S$0.05/share from S$0.10/ as it no longer expects a special dividend payout in 2024 amid near-term headwinds and the need to finance new production facilities. It downgrades the stock's rating to hold and trims target to S$1.00 from S$1.30. 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Revenue of the food-manufacturing company, which exports its products to Russia, may continue to be affected by a weaker ruble and high inventory levels in the country, they note. UOB KH expects gross margins to remain muted at 29%-30% over 2024-2026. UOB KH lowers its dividend forecast to S$0.05/share from S$0.10/ as it no longer expects a special dividend payout in 2024 amid near-term headwinds and the need to finance new production facilities. It downgrades the stock's rating to hold and trims target to S$1.00 from S$1.30. Shares are at S$0.987.(amanda.lee@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 06, 2024 01:20 ET (05:20 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones & Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"F03.SI","symbol_name":"富旺朝","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2465637533","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465637533","pubTimestamp":1725600000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0520 GMT - Food Empire's earnings may remain weighed by higher global coffee prices and higher costs due to the ongoing Russia-Ukraine conflict, UOB Kay Hian analysts write in a note. Revenue of the food-manufacturing company, which exports its products to Russia, may continue to be affected by a weaker ruble and high inventory levels in the country, they note. UOB KH expects gross margins to remain muted at 29%-30% over 2024-2026. UOB KH lowers its dividend forecast to S$0.05/share from S$0.10/ as it no longer expects a special dividend payout in 2024 amid near-term headwinds and the need to finance new production facilities. It downgrades the stock's rating to hold and trims target to S$1.00 from S$1.30. Shares are at S$0.987.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"F03.SI":"富旺朝"},"translate_title":"食品帝国的收入受到不利因素的影响——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"F03.SI":0.9},"content_text":"0520 GMT - Food Empire's earnings may remain weighed by higher global coffee prices and higher costs due to the ongoing Russia-Ukraine conflict, UOB Kay Hian analysts write in a note. Revenue of the food-manufacturing company, which exports its products to Russia, may continue to be affected by a weaker ruble and high inventory levels in the country, they note. UOB KH expects gross margins to remain muted at 29%-30% over 2024-2026. UOB KH lowers its dividend forecast to S$0.05/share from S$0.10/ as it no longer expects a special dividend payout in 2024 amid near-term headwinds and the need to finance new production facilities. It downgrades the stock's rating to hold and trims target to S$1.00 from S$1.30. Shares are at S$0.987.(amanda.lee@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 06, 2024 01:20 ET (05:20 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}