SIG Flat: Reported a weaker FY25 (as at 31 January) result posting solid revenue but disappointing on earnings. Expectations were well and truly baked in via a trading update back in early February hence a muted reaction from the market today. The final full-year result from Sigma pre-Chemist Warehouse was headlined by a net loss, primarily due to costs associated with the merger.
- Revenue: $4.84 billion +46% yoy, beat consensus of $4.41 billion
- Net loss -$13.8 million vs. +$4.51 million profit yoy
The company expects to refine its dividend policy under the new merged Board, targeting a 50-70% payout of net profit. Medium-term earnings and revenue look positive with the merged entity already benefitting from synergies.
MM is neutral toward SIG
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