Full year 2021 results:
- EPS: S$0.088 (down from S$0.092 in FY 2020).
- Revenue: S$1.37b (down 1.7% from FY 2020).
- Net income: S$132.8m (down 4.2% from FY 2020).
- Profit margin: 9.7% (in line with FY 2020).
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.1%.Over the next year, revenue is expected to shrink by 7.1% compared to a 21% growth forecast for the retail industry in Singapore.
Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.