Footfall recovery and reduced operating expenses lift Senheng

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).