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RETAIL | Staff Reporter, Singapore

Super Group sets eyes on new markets despite lacklustre profit

Potential lies in its new products, analysts say.

Brighter days seem to be on the horizon for the retail firm as its market expansion strategy, as well as its new products are showing immense potential.

According to an analyst report from Maybank Kim Eng, 75% of new growth in Singapore and Malaysia came from sell-through/re-orders rather than the new stocking.

Maybank Kim Eng added that more markets are to get the new products in 2016, along with more products in other categories such as tea and cereals.

“China should continue to do well, driven by surging offline and online sales,” Maybank Kim Eng said.

Meanwhile, Maybank Kim Eng said the firm plans to handle the risks which remain by strategy.

“Key raw materials have softened but they could bounce back. Competition can be expected to remain keen. However, management reiterated it is familiar with the challenges and will stay the course with its “Branding, Innovation and Diversify” strategy,” Maybank Kim Eng said.
 

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