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CS has unrated report on the counter. Note that while Super primarily sees itself as a branded consumer business in the coffee/ cereal space, its food ingredients business (57% of revenues) has been the bigger driver of growth over the past few years. Going forward, management expects growth of food ingredients business to normalise towards 20% YoY levels. Management is also planning to diversify into botanical herbal extractions to drive the next leg of growth. Geographically, Super is keen on consolidating its presence in key markets in ASEAN and East Asia. In ASEAN - Indonesia, Thailand and Myanmar provide growth opportunities, but there are some signs of consumer demand slowdown. In East Asia, Super is more optimistic on China ? with plans to increase ad spend. Overall, management expects volume growth rates to normalize towards high teen levels with the already high utilisation rates in the food ingredients segment. But management will focus on better efficiency and new product segments/geographies to drive the next leg of sustainable growth for the overall Group.
good to pick up at 4.00
Rebound at key support suggests further recoveryBy Philip Teo
Rebound at key support suggests further recovery
Immediate hurdles crossed.
Super Group could see more upside ahead after rebounding at its key 1-year uptrend support recently this was followed by a bullish break above the $4.50 and 1-month downtrend resistance on significant volume yesterday.
Indicator turning bullish.
The MACD is converging bullishly towards its signal line at the moment, suggesting that the downside momentum has waned.
Next resistance at $5.
The counter is likely to head towards the $5 next key obstacle (key peak) in the weeks ahead.
Immediate support at $4.50.
Meanwhile, we advocate a stop-loss exit around $4.30, which is slightly below the newly established resistance-turned-support at $4.50.
...last: $4.47...
Super Group - Deja-Brew! Time to Buy Again
Date: 20/08/2013
| Source | : | Maybank Kim Eng |
| Stock | : | SuperGroup | | Price Target | : | 6.10 | | | Price Call | : | BUY |
| | | | | Last Price | : | 4.75 | | | Upside/Downside | : |  +1.35 (28.42%) |
Share price gain has more legs. We maintain our
positive view on Super. Recent 2Q13 results affirmed our investment
thesis that the company will continue to be a major beneficiary of lower
commodity prices. While share price has gained 47% YTD, we see further
reasons to be optimistic because of (1) good traction in new markets
which may become new growth pillars and (2) increasing importance as an
ingredients supplier.
Good traction in new markets. While Super?s branded
consumer revenue growth of 6% YTD appears to be lagging behind some
peers, we believe this is due to revenue mix and market specific reasons
(such as rioting in Myanmar earlier this year) rather than a loss of
market share. Encouragingly, we see good traction in new markets which
may become new growth pillars. For example, Philippines sales grew more
than 25% YoY and it has just overtaken Singapore as the fifth largest
geographical contributor.
Competition intensifying, but more than one way to make money.
We are cognizant of the intensifying competition across ASEAN, but
expect this to play out mostly in new product variations rather than
price wars. This is also where Super?s increasing prominence as an
ingredient supplier allows the company to benefit from the overall
market growth even in countries where it does not have a strong brand
yet. This quarter, soluble coffee sales almost doubled as the company
has started to supply major players in South-East Asia.
A major beneficiary of lower commodity prices. While
gross margins have improved from 29% in 3Q11 to 39% last quarter, a part
of this is due to in-house manufacturing and economies of scale. As a
fully integrated player and direct buyer of commodities, we believe the
full potential of margin enhancement from softer commodity prices is
still underestimated by the market. In our opinion, gross margins can
surpass the heights of 40% achieved in 2010.
Reiterate BUY. We have raised our FY13-FY14 estimates
by 11-13% mainly on higher margin assumptions and also tweaked our DCF
assumptions (higher risk-free rate). This yields a TP of SGD6.10, implying 28.8x FY14F and upside of 28% from current levels.
Source: Maybank Kim Eng Research
$6 soon
Super Group: On the release of its 2Q13 results, OSK DMG maintain NEUTRAL, lowers TP to $4.58 due to higher WACC. Super Group?s overall revenue rose 23% y-o-y to $138m. Branded consumer (BC) sales gained 10% y-o-y to $92m on double-digit growth in Myanmar, the Philippines and Thailand. Food ingredient (FI) surged by 65% to $46m as sales to South-East Asia tripled to $32m, mitigating a 17% dip in contribution from East Asia. 2Q13 gross profit margin widened to 38.8% on lower raw material prices and higher operating efficiency. Coffee, sugar and palm oil input costs per tonne in 2Q13 were estimated at USD2,000, USD530 and USD700 (2Q12: USD1,940, USD620 and USD1,000) respectively. OSK DMG note that 2Q13 gross profit margins at the BC and FI divisions stood at 40-45% and 25-30% respectively. Given the recent increase in interest rates, its WACC -now a higher 4.5% (from 3.7% previously) ? leads to a lower TP of $4.58 (vs $4.88 previously). OSK DMG believe a better debt-equity structure to facilitate a higher dividend payout or earnings accretion from potential M& As may warrant a higher valuation.
Superb
Singapore Stock Tip: Our short term target for Supergroup is reached at $5
Dear Friends,
Do you remember that we issued our analysis on Supergroup. We mentioned that you should look at the stock at $4.53 at 9th July.
http://www.danielloh.com/2013/07/singapore-stock-tip-supergroup-going.html
We also did said that supergroup 1st resting place is in between $4.70 and $4.80. Indeed these few days it rested in the region. See today's chart.
When it is resting, we issued another article on 12th July:
http://www.danielloh.com/2013/07/singapore-stock-tip-supergroup-still.html
We mentioned that if this stock sticks to 4.70, it has the chance to go for the Dante's Peak at $4.95-5. Today it reached and break out of $5.
Our advice:
1) For those that is holding this stock, Congratulations and set your stop loss at $4.97.
2) For those that have not entered, you need to wait for retracement. Afterall, this stock has a resistance at $5.10 or $5.20. So for those who wish to enter, do have patience.
Hi Sir
What is the fair price to buy ?....just repeat the announcement only can help to give target price ?....
Thanks
Super: 2Q13 earnings spiked 106% y/y to $37.4m, which included a gain of $17.1m from the disposal of the Company?s 35.3% interests in Sun Resources Holdings Pte Ltd, an associated company involving in property development projects in China.
Otherwise, core earnings improved 12% y/y.
Revenue improved 23% to $138.3m as branded consumer sales had a robust y/y growth and recovery from 1Q13?s marginal growth of 1%. 2Q13 posted 10% sales growth to $92.4m y/y compared to 2Q12?s $84.3m.
Higher sales were registered from key Southeast Asian markets of Myanmar, Malaysia, Philippines and Thailand.
The increase was further boosted by higher sales to other Southeast Asian markets like Indonesia, Vietnam and Cambodia. Further, food ingredient segment achieved 65% growth for 2Q13 to $46m from 2Q12?s $27.8m.
The growth was supported by increased production capacity and continued robust demand for soluble coffee powder and non-dairy creamer from the Asian markets.
Gross profit margin for 2Q13 improved 3 percentage points YoY to 39% due to effective cost management and enhanced operational efficiencies arising from increased production capacity.
Management is optimistic that the Group?s on-going efforts to stay ahead of the competition will generate positive contributions to its operating performance.
The Group?s balance sheet remains healthy with cash and bank balances of $94.9m as at 30 Jun 2013. Counter will continue trading at 1345 hours.
Trading halt
It is always uptrend
Today news that NZ dairy products got infection with baterias, is good news to Super ? Ang Mo will switch to drink Asian ex-China milk products loh... Supper kopi powders up up away...
Ya, what is your LDL level?
krisluke ( Date: 03-Aug-2013 22:17) Posted:
Yes !!
six packets 3 in 1 low fat per day.
Kensonic77 ( Date: 03-Aug-2013 13:00) Posted:
Anybody drink more than 1 packet of Super 3in1 per day?
NB: Health Survey |
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That quite high consumption
What is your LDL reading?
krisluke ( Date: 03-Aug-2013 22:17) Posted:
Yes !!
six packets 3 in 1 low fat per day.
Kensonic77 ( Date: 03-Aug-2013 13:00) Posted:
Anybody drink more than 1 packet of Super 3in1 per day?
NB: Health Survey |
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Yes !!
six packets 3 in 1 low fat per day.
Kensonic77 ( Date: 03-Aug-2013 13:00) Posted:
Anybody drink more than 1 packet of Super 3in1 per day?
NB: Health Survey |
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How to compare F& N they have share return $3.8 from their profit sale of a company! Super don't have & no jealous one , ...Super up up away ...long long..
CSH123 ( Date: 03-Aug-2013 12:12) Posted:
F& n 5.76vs super 4.76? (diff of 17%?) super man for sooo long???
chinastar ( Date: 04-Jul-2013 13:06) Posted:
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Kindly provide your survey .
Thanks in advance !!!
Kensonic77 ( Date: 03-Aug-2013 13:00) Posted:
Anybody drink more than 1 packet of Super 3in1 per day?
NB: Health Survey |
|
Anybody drink more than 1 packet of Super 3in1 per day?
NB: Health Survey
F& n 5.76vs super 4.76? (diff of 17%?) super man for sooo long???
chinastar ( Date: 04-Jul-2013 13:06) Posted:
teh or kopi:)
ysh2006 ( Date: 28-Jun-2013 23:09) Posted:
| This is super stock, last time I have a similar thinking but the longer one wait , I need to take lift to chase the price $ 2, $3, $ 4 , $ 5 ?...if not can't get it leh.. |
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