Latest Forum Topics / Food Empire Last:1.12 -- |
![]() |
Food Empire
|
|||||
VT_Jr888
Member |
22-Aug-2023 02:09
|
||||
x 0
x 0 Alert Admin |
$1.10 by the end of this week, can only hope! | ||||
Useful To Me Not Useful To Me | |||||
VT_Jr888
Member |
17-Aug-2023 01:46
|
||||
x 0
x 0 Alert Admin |
Very strong support at 1.02-1.03. Good chance to get in now, I feel. Should fly up to 1.10 soon, I hope. |
||||
Useful To Me Not Useful To Me | |||||
|
|||||
JAD_Trader
Senior |
16-Aug-2023 19:50
|
||||
x 0
x 0 Alert Admin |
Maybe last chance to buy more. | ||||
Useful To Me Not Useful To Me | |||||
yau123
Senior |
16-Aug-2023 10:12
|
||||
x 0
x 0 Alert Admin |
Got report also never move. 
|
||||
Useful To Me Not Useful To Me | |||||
FrancisLim
Elite |
16-Aug-2023 09:55
|
||||
x 0
x 0 Alert Admin |
Not only exchange loss, now Russia is mooting Exchange Control...
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
Joelton
Supreme |
16-Aug-2023 09:33
|
||||
x 0
x 0 Alert Admin |
Maybank Securities maintains ' buy' with higher TP of $1.36 for Food Empire Holdings as robust demand ensues
 
Food Empire Holdings&rsquo strong revenue growth for the 1HFY2023 ended June and robust demand from core markets has Maybank Securities maintaining its &ldquo buy&rdquo call with a higher target price of $1.36. The brokerage&rsquo s target price was $1.29 previously.
 
On Aug 10, Food Empire&rsquo s earnings for the six-month period ended June stood at US$26.6 million ($36.10 million), down 1.6% y-o-y due to a foreign exchange (forex) difference of US$8 million. Despite the slight dip, Food Empire&rsquo s results still stood above analysts Jarick Seet and Eric Ong&rsquo s expectations at 55% of their FY2023 forecast.
 
During the 1HFY2023, Food Empire&rsquo s revenue grew to US$198.2 million, up 11.8% y-o-y due to strong demand from its core markets, as revenue from Russia, Ukraine and other Commonwealth of Independent States markets grew 23.6% and 20% y-o-y respectively.
 
Demand from Vietnam has also reversed a decline and increased y-o-y due to the group&rsquo s marketing efforts, Seet and Ong say.
 
They also note that gross margins increased from 29.3% to 35.1%, and operating profit surged 67.7% y-o-y to US$34.6 million.
 
The analysts say that management will be raising prices from next month by 7%-15% and this will be done in two tranches, mainly to combat the impact of a weaker ruble which has depreciated significantly in the past few months.
 
&ldquo We expect softness in revenue and gross profit in 3QFY2023 as these price increases typically take about three to six months to fully take effect but performance should pick up in 4QFY2023,&rdquo they add.
 
See also: Analysts stay positive on CDL with ' buy' calls, but note potential dampeners to its growth prospects
 
Finally, Seet and Ong note that Food Empire has proven its business model to be resilient and has shown a strong performance despite an ongoing war in its core markets.
 
&ldquo We remain confident in management&rsquo s execution capability and strong track record. We also believe share-buybacks will continue which should provide good support to the share price,&rdquo they say.
 
As a result, Seet and Ong have raise their FY2023/FY2024 patmi estimates by 5% and
Increased their target price to $1.36, pegged to 11x FY2023 P/E.
|
||||
Useful To Me Not Useful To Me | |||||
chiachiawee
Elite |
15-Aug-2023 21:54
|
||||
x 0
x 0 Alert Admin |
Q2 already showed the impact of forex loss for depreciation of Ruble against USD. Q3 could register bigger forex loss IMHO. See how the co mitigate the forex loss. | ||||
Useful To Me Not Useful To Me | |||||
Observers
Elite |
15-Aug-2023 21:24
|
||||
x 0
x 0 Alert Admin |
How come no effect one? I thought most of their business is in Russia? | ||||
Useful To Me Not Useful To Me | |||||
|
|||||
JAD_Trader
Senior |
15-Aug-2023 17:21
|
||||
x 0
x 0 Alert Admin |
GG ?
|
||||
Useful To Me Not Useful To Me | |||||
FrancisLim
Elite |
14-Aug-2023 08:32
|
||||
x 0
x 0 Alert Admin |
1  United States Dollar  equals
 
100.00  Russian Ruble
|
||||
Useful To Me Not Useful To Me | |||||
donttrust
Member |
12-Aug-2023 12:26
|
||||
x 0
x 0 Alert Admin |
Thanks. Do u understand Malay ?
|
||||
Useful To Me Not Useful To Me | |||||
JAD_Trader
Senior |
11-Aug-2023 19:13
|
||||
x 0
x 0 Alert Admin |
Yes. Please do moonwalk so we can go to the moon!
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
pcxiao2008
Master |
11-Aug-2023 16:24
|
||||
x 0
x 0 Alert Admin |
Zzzz boring 
|
||||
Useful To Me Not Useful To Me | |||||
FrancisLim
Elite |
11-Aug-2023 15:30
|
||||
x 0
x 0 Alert Admin |
" In the Group&rsquo s Russia segment, revenue increased by 23.6% from US$57.1 million in 1H2022 to US$70.6 million in 1H2023. The increase was due to a combination of higher volumes and higher pricing partially offset by the depreciation of the Russian Ruble against the US dollar. The average exchange rate was 76.7 Ruble per US dollar in 1H2023 as compared to 73.7 Ruble per US dollar in 1H2022."     1  United States Dollar  equals
 
97.93  Russian Ruble
  |
||||
Useful To Me Not Useful To Me | |||||
pcxiao2008
Master |
11-Aug-2023 15:25
|
||||
x 0
x 0 Alert Admin |
dont dance cha cha ok... time to move BIG steps!
|
||||
Useful To Me Not Useful To Me | |||||
JAD_Trader
Senior |
11-Aug-2023 14:42
|
||||
x 0
x 0 Alert Admin |
Resuts announcement push up the price. | ||||
Useful To Me Not Useful To Me | |||||
msksmsks
Elite |
11-Aug-2023 13:39
|
||||
x 0
x 0 Alert Admin |
If the buy up is SBB, the shortist jialat liao
|
||||
Useful To Me Not Useful To Me | |||||
msksmsks
Elite |
11-Aug-2023 13:10
|
||||
x 0
x 0 Alert Admin |
The buy up is fast n furious
If shortist caught off guard, they wl really hv to buy higher to cover their positions. LOL
|
||||
Useful To Me Not Useful To Me | |||||
pcxiao2008
Master |
11-Aug-2023 13:07
|
||||
x 0
x 0 Alert Admin |
finally start action
|
||||
Useful To Me Not Useful To Me | |||||
msksmsks
Elite |
11-Aug-2023 13:05
|
||||
x 0
x 0 Alert Admin |
Strong buying | ||||
Useful To Me Not Useful To Me |