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Food Empire
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Food Empire: Good target for PE Fund/Delisting
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chiachiawee
Elite |
16-Aug-2024 12:21
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Earlier alr fly to 1.4 range lor. Cannot keep going up one, every counter will revert to mean and then catch up with the market again it its value persists. | ||||
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Whale2024
Member |
16-Aug-2024 11:57
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If trump win the election then this stock will fly high as Ukraine and Russia war will end immediately.
Food empire cannot fly is coz of the risk of War |
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Everyday
Elite |
28-Feb-2024 13:19
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Dividend 5c Ex date 3rd May Pay date 17th May https://links.sgx.com/1.0.0/corporate-announcements/ZTH360TRAT35D0I3/b63979f6f5d38a94faa8464ceb286d94af4b76e3be5f6a17e5cb01897b137b57#   |
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tedlim
Veteran |
10-Jun-2022 10:38
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Joelton
Supreme |
06-Oct-2021 14:07
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Food Empire ' attractive target for privatisation or acquisition' : RHB
 
RHB Group Research analyst Jarick Seet has kept &ldquo buy&rdquo on Food Empire with the same target price of $1.23.
 
In his report dated Oct 5, Seet sees the company&rsquo s share buybacks as a &ldquo strong vote of confidence&rdquo from its management.
 
On Sept 28, 29 and 30, Food Empire&rsquo s management purchased a total of 340,000 shares, at 77.26 cents apiece, 77.89 cents apiece and 78.78 cents apiece respectively.
 
The company has also marked revenue growth of 12.5% y-o-y in the 1HFY2021, which is a &ldquo strong showing&rdquo by historical standards.
 
Sales to its core market in Russia grew 12.8% y-o-y while sales to other markets in Southeast Asia and South Asia grew by 13.2% y-o-y and 91% y-o-y.
 
To this end, Seet also expects Food Empire&rsquo s market share in Vietnam, India and Malaysia, as well as its market share in Russia and Ukraine to continue to grow, as the group introduces more new products into these regions.
 
That said, the company&rsquo s margins in 1HFY2021 were mainly impacted by the surge in freight rates and raw material prices, which should be a &ldquo temporary blip&rdquo , according to Seet.
&ldquo Management will likely raise average selling prices (ASPs) to mitigate the rise in margins &ndash it aims to raise ASPs by 10% each time in two batches, from end-3QFY2021 onwards,&rdquo says Seet.
 
&ldquo The group has also begun sourcing from other local supply chains for raw materials, which should save on freight costs and pare down overall cost of goods sold (COGS). As a result, we think the increase in costs is only temporary, and margins should normalise once global vaccination rates increase and Covid-19 becomes endemic,&rdquo he adds.
 
On the back of the temporary surge in COGS, Seet has cut his FY2021 PATMI estimates by 14%.
For more stories about where the money flows, click here for our Capital section
However, his target price remains at $1.23, which is pegged at 15 times FY2022 price-to-earnings (P/E) to reflect a &ldquo more accurate PATMI on a normalised basis&rdquo .
 
&ldquo We remain confident on Food Empire Holdings&rsquo prospects, and believe that it remains an attractive target for privatisation or acquisition, due to its attractive valuation,&rdquo he says.
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look@bright
Elite |
04-Oct-2021 11:15
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How true is the privatization by Tan Family?  I think Anthoni Salim is largest shareholder if i am correct, will he allow this to happen?
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PhillipTan
Supreme |
07-Sep-2021 23:14
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UOB Kay Hian lowers FY2021 earnings forecast for Food Empire Holdings on lower gross margin forecastUOB Kay Hian analysts John Cheong and Clement Ho have kept " buy" on Food Empire Holdings with an unchanged target price of $1.30 in a Sept 2 report.The estimate comes as the company reported net profit of US$11.5 million ($15.2 million) in the 1HFY2021 ended June on Aug 13. The figure stood below the analysts' expectations at 37% of their FY2021 estimates due to margin pressures on high commodity prices and record-high ocean freight rates. That said, the company saw revenue growth across all of its markets, especially two of its largest markets, Russia and Southeast Asia. Moving forward, Food Empire Holdings should be able to pass on the increased costs of raw materials and logistics gradually due to its strong branding power and market-leading position. To the analysts, Food Empire Holdings has a compelling valuation as it is currently trading at 10 times FY2022 price-to-earnings (P/E) compared to its peers' average of 18 times. " In view of its resilient core earnings amid a challenging environment, leading position in its core markets in Eastern Europe and growing presence in its second largest market, Vietnam, we believe the valuation gap with its peers will narrow," they write. On the back of higher raw material and logistics costs however, Cheong and Ho have lowered their earnings forecast for the FY2021 by 20%. They have also reduced their gross margin forecast by 2.2 percentage points to 36.1%. That said, the situation is " temporary in nature," they note, which is why they have reduced their earnings estimates for the FY2022 and FY2023 by 6% after lowering their gross margin assumption by 1 percentage point to 38%. Shares in Food Empire closed flat at 78 cents on Sept 7, with an FY21 P/B of 1.3 times and a dividend yield of 2.4%. |
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Joelton
Supreme |
18-Aug-2021 09:00
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RHB: Food Empire' s TP to $1.23 (remains an attractive target for privatisation or take over due to its attractive valuation)
 
RHB Group Research analyst Jarick Seet has kept &ldquo buy&rdquo on Food Empire with a lower target price of $1.23 from $1.27 as he rolls his price-to-earnings (P/E) to 15 times FY2022.
 
This, he says, is to reflect a more accurate PATMI on a normalised basis.
He has also lowered his PATMI estimates for the FY2021 by 14% due to the surge in the cost of goods sold (COGS), which Seet believes, is temporary.
 
&ldquo Management will likely start raising average selling prices (ASPs) by 10% each time for two periods, to mitigate the margin drop &ndash it has already sourced for a local supply chain to avoid freight charges for some of its raw materials,&rdquo Seet writes in an Aug 16 report.
 
On Aug 13, Food Empire saw earnings decline by 13.9% y-o-y to US$11.5 million ($15.6 million) for the 1HFY2021 ended June due to higher cost of sales.
 
Revenue, on the other hand, grew by 12.5% y-o-y to US$149.6 million, which Seet sees as &ldquo very encouraging&rdquo .
 
The higher figure is also a &ldquo strong showing by historical standards&rdquo , he says.
Food Empire&rsquo s earnings per share (EPS) for the six-month period stood at 2.11 US cents from 2.49 US cents in the same period before on a fully diluted basis.
 
&ldquo We expect its market share in Vietnam, India, Malaysia as well as Russia and Ukraine to continue to increase as the group launches more products into these regions,&rdquo he adds.
 
In addition, the share buybacks conducted by Food Empire&rsquo s management is likely to continue as management deems the company deeply undervalued.
 
&ldquo We share the view and believe that management will likely resume the buybacks once the blackout period is lifted,&rdquo says Seet.
 
At 11.4 times FY2021 P/E, Food Empire is among the cheapest consumer staples compared to its peers that&rsquo re trading at 20 times to 30 times P/E.
 
&ldquo We remain confident on Food Empire&rsquo s prospects, and think that it remains an attractive target for privatisation or take over due to its attractive valuation,&rdquo he says.
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PhillipTan
Supreme |
18-Aug-2021 02:30
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RHB lowers Food Empire' s TP to $1.23 on higher cost of goods soldRHB Group Research analyst Jarick Seet has kept " buy" on Food Empire with a lower target price of $1.23 from $1.27 as he rolls his price-to-earnings (P/E) to 15 times FY2022.This, he says, is to reflect a more accurate PATMI on a normalised basis. He has also lowered his PATMI estimates for the FY2021 by 14% due to the surge in the cost of goods sold (COGS), which Seet believes, is temporary. " Management will likely start raising average selling prices (ASPs) by 10% each time for two periods, to mitigate the margin drop &ndash it has already sourced for a local supply chain to avoid freight charges for some of its raw materials," Seet writes in an Aug 16 report. On Aug 13, Food Empire saw earnings decline by 13.9% y-o-y to US$11.5 million ($15.6 million) for the 1HFY2021 ended June due to higher cost of sales. Revenue, on the other hand, grew by 12.5% y-o-y to US$149.6 million, which Seet sees as " very encouraging" . The higher figure is also a " strong showing by historical standards" , he says. Food Empire' s earnings per share (EPS) for the six-month period stood at 2.11 US cents from 2.49 US cents in the same period before on a fully diluted basis. " We expect its market share in Vietnam, India, Malaysia as well as Russia and Ukraine to continue to increase as the group launches more products into these regions," he adds. In addition, the share buybacks conducted by Food Empire' s management is likely to continue as management deems the company deeply undervalued. " We share the view and believe that management will likely resume the buybacks once the blackout period is lifted," says Seet. At 11.4 times FY2021 P/E, Food Empire is among the cheapest consumer staples compared to its peers that' re trading at 20 times to 30 times P/E. " We remain confident on Food Empire' s prospects, and think that it remains an attractive target for privatisation or take over due to its attractive valuation," he says. As at 9.31am, Food Empire is trading 0.5 cent lower or 0.6% down at 80.5 cents, with an FY2021 P/B of 1.3 times and dividend yield of 2.4%, according to RHB' s estimates.   |
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tedlim
Veteran |
16-Aug-2021 09:14
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Yes...no reason for share price to be at this level..company has been doing share buybacks at 90cent level.. because of results coming soon, they cannot do so. OVERSOLD in my opinion...AND they are prime for delisting...good cashflow and good brands in the comsumer markets. |
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pcxiao2008
Master |
16-Aug-2021 09:10
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any results released? this price abit too over corrected | ||||
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xierwang
Member |
12-Aug-2021 11:25
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Food empire should announce its half-year reults for 2021 tonight, should be good as its competitor    posted good results recently.
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PhillipTan
Supreme |
07-Jul-2021 11:33
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' Buy' Food Empire on brighter outlook ahead: RHBRHB Group Research analyst Jarick Seet has kept his &ldquo buy&rdquo call for Food Empire Holdings with an unchanged target price of $1.27 as he sees stronger quarters ahead for the company. &ldquo We believe that the worst is over for Food Empire in 2020, with 1Q2021 likely to be the weakest quarter for FY2021,&rdquo he says in a July 7 research note. Seet&rsquo s sanguine outlook for Food Empire&rsquo s FY2021 ending December is underpinned by the " strong sequential improvement" the company has shown from 2Q2020 on the back of stable demand for instant coffee products. &ldquo We expect demand to remain resilient, and increase in FY2021, especially in 2Q-3Q2021,&rdquo Seet says. Given the low revenue base in 2020 due to the lockdowns, Seet expects Food Empire to report strong revenue growth in the coming quarters. He also anticipates margins to improve and contribute to higher earnings for the FY2021. &ldquo With the higher freight and raw material costs impacting margins in 1Q2021, management has taken several initiatives such as further cost reduction and a targeted marketing approach amid a series of measures to mitigate the increase from these areas,&rdquo he explains. Freight costs and raw material prices are also expected to stabilise toward the end of 3Q2021. A further increase in average selling prices (ASPs) in Food Empire&rsquo s strong markets like Russia and Ukraine is also possible, Seet notes, based on management guidance. &ldquo The company will raise prices in 3Q2021, if deemed necessary or if competitors also raise prices,&rdquo he says. Seet believes that the increase of a long-term shareholder&rsquo s stake in Food Empire in May shows a vote of confidence in the company. Additionally, he notes that management has been on an " aggressive" share buyback streak. " We believe that management will likely continue its share buyback programme, providing further support to the stock," he says. He keeps his &ldquo buy&rdquo call on the counter, noting that at 10 times FY2021 P/E, the group is among the cheapest consumer staples with a " proven track record" , while its peers are trading between 20-30 times P/E. He also reiterates that privatisation may be a possibility, given its undervalued status.  As at 10.33am, shares in Food Empire are trading 0.5 cents or 0.57% lower at 87.5 cents.   |
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pcxiao2008
Master |
31-May-2021 16:55
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tml should see it on par with some counters ... go go go!
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pcxiao2008
Master |
31-May-2021 10:27
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finally start to move slowly back to 95c again...
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furyhawk
Member |
31-May-2021 10:25
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Food Empire sprinting ahead of JAPFA after consolidation. Any news? | ||||
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WBdisciple
Master |
17-May-2021 21:19
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Analyst keep reiterating delisting is a possibility...
' Buy' Food Empire on potential increase in ASPs, possibility of privatisation: RHBFelicia Tan  Published on Mon, May 17, 2021 / 12:29 PM GMT+8 / Updated 8 hours ago
RHB Group Research analyst Jarick Seet has kept &ldquo buy&rdquo on Food Empire with the same target price of $1.27 after Food Empire reported its 1QFY2021 figures on May 11.
For the quarter ended March, earnings increased by 3.9% y-o-y to US$6.8 million ($9.1 million) while revenue grew 3.4% y-o-y to US$76.8 million. The better performance comes despite a record 1QFY2020 and amid lower margins due to higher freight and raw material costs during the period. However, Seet says he expects Food Empire&rsquo s margins &ldquo to improve and revenue to grow further in the quarters ahead, as it was impacted by global lockdowns in 2QFY2020-3QFY2020. Management can also widen margins by its raising ASPs, if needed,&rdquo he writes in a May 14 report  
To him, he expects demand to remain resilient and grow in the FY2021, especially in the second and third quarters, as the company has since learnt to solve previous operational and logistics issues that led to a temporary decrease in its sales volume.To this end, Seet says the 1QFY2021 is likely to be Food Empire&rsquo s weakest quarter for the year, even though it yielded numbers that outperformed his estimates. &ldquo Going forward, management said that marketing and administrative costs are likely to remain low this year, even though revenue should rebound further, thereby allowing for margin expansion,&rdquo he says. With the increase in freight and raw material costs in the 1QFY2021, Seet notes that the company&rsquo s management has implemented measures such as further cost reductions and a targeted marketing strategy to stem the growth of these metrics. &ldquo Food Empire is confident on charting higher revenue growth this year, on the back of strong demand for its products &ndash even in new markets like Vietnam and Southeast Asia,&rdquo he says. &ldquo It is also reviewing the option of increasing average selling prices (ASPs) in strong markets like Russia and Ukraine, and will raise prices from 3QFY2021 onwards if necessary, or if competitors hike up their own selling prices,&rdquo he adds. &ldquo Management expects freight and raw material prices to stabilise towards the end of 3QFY2021, which should further strengthen margins.&rdquo Looking ahead, Seet remains &ldquo positive&rdquo on the counter, as he sees the potential for the company to grow further. For instance, he is not ruling out the possibility of privatisation given its undervalued position. &ldquo Management has also been aggressively buying back shares, with the last exercise executed at 94 cents per unit,&rdquo he says. &ldquo We believe the share buybacks were done to support its stock price,&rdquo he adds. With a market valuation of 10 times FY2021 price-to-earnings (P/E), Seet says Food Empire is among the cheapest consumer staples counters with a proven track record, compared to its peers that are trading at 20 to 30 times P/E. |
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WBdisciple
Master |
11-May-2021 21:20
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Food Empire reports increased earnings of US$6.9 mil for 1QFY21 despite ongoing pandemic![]() Food Empire Holdings has reported earnings of US$6.8 million for its 1QFY21, up 3.9% y-o-y. Revenue in the same period was up 3.4% to US$76.8 million, led by stronger demand for its products in southeast Asia.
The company also suffered lower forex losses and incurred lower sales related expenses. However, raw materials and transportation costs increased. Food Empire notes that its main market, Russia, continues to suffer from the pandemic although the situation is &ldquo generally under control&rdquo and it &ldquo has not faced any major interruptions&rdquo in its operations in 1Q2021.  However, since April 2021, Ukraine, is other key market, is seeing the peak of its third Covid-19 wave. &ldquo Despite the uncertain and volatile operating conditions, the Board is confident that Group&rsquo s businesses will remain resilient, backed by an experienced management team and a healthy balance sheet,&rdquo the company says. As at March 31, cash and cash equivalents stood at US$70.3 million and it can fulfil its near-term obligations, meet its debt covenants and service its debt obligations.  |
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WBdisciple
Master |
30-Apr-2021 05:39
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WIlmar and Japfa all announced record results...it shows the resiliency of consumer staples...time for  Food Empire to shine | ||||
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TobyRun
Member |
29-Apr-2021 14:48
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Vol increasing. With the CD, may breach 1.00. Huat ah. Dyodd. | ||||
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