Singapore Stock Market News

Super Group - 3Q12 preview

StockFanatic
Publish date: Tue, 06 Nov 2012, 12:46 PM
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We expect Super Group 3Q's earnings to come in at S$17.8m which forms 26% of our and consensus full-year estimates. We believe that the impact of moderating coffee prices should outweigh demand sluggishness in the Asean economies.

We maintain Outperform, with no change to our estimates or target price, still based on 20x P/E (20% discount to Nestle Malaysia). We will roll forward our target price to end-CY13 and review our forecasts after the 3Q results announcement, expected on 8 November. Catalysts include stronger-than-expected Branded Consumer sales.
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