A commendable set of earnings
For the record, Sheng Siong delivered a commendable set of earnings for the first nine months of 2024 (9M 2024). Revenue rose 4% year on year to S$1.1 billion while gross profit improved by 6% year on year to S$328.8 million. Gross margin continued its climb, going from 29.9% in 9M 2023 to 30.5% in 9M 2024. Net profit increased by 8.7% year on year to S$109.1 million....The Straits Times Index (SGX: ^STI) delivered a blockbuster performance last year with a total return of 23.5%, one of its best performances in a decade.
The bellwether blue-chip index also outperformed regional peers and was one of the best-performing indices in Southeast Asia.
However, not all stocks enjoyed the same bullish run as the Straits Times Index.
Sheng Siong (SGX: OV8) saw its share price rise by only 6.5% in the past year.
Investors may be wondering what’s next for the supermarket operator.
Let’s delve deeper to see what we can expect from Sheng Siong in the coming months.
