PETALING JAYA: A potential recovery in footfall and lower-than-expected operating expenses are expected to buoy Senheng New Retail Bhd’s future earnings against its weaker prospects going forward, says CGS-CIMB Research.
The research house noted that the electrical and electronics retailer’s net profit of RM46mil for the nine-month period ended Sept 30, 2022 came in below its expectations at 62.2%, despite having gone up by 13.6% year-on-year (y-o-y).
However, Senheng’s gross profit margins for the nine-month period were up by 22.1%, underpinned by an improved sales mix.
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