26 Sep '16, 6am

Explosive form of Sheng Siong shares: Since my previous review in May 2016, Sheng Siong shares had an explosive…

Since my previous review in May 2016 , Sheng Siong shares had an explosive form. The supermarket operator’s share price surged from $0.89 to the $1.00 support level. This is an impressive run and effectively, Sheng Siong had shed the “penny stock” tag. Once again, Sheng Siong delivered a quarterly performance that are within expectations. Revenue continued to grow, recording an increase of 5.5% at $188.8 million compared to 2015. The addition of three new stores had contributed to the net growth in revenue. Sheng Siong Competitive Edge Besides store expansion, Sheng Siong’s growth was supported by higher margins. Gross margin increased to 26.1% in 2Q2016 compared with 25.2% in 2Q2015 mainly because of suppliers’ rebates and reduction in input cost derived mainly from bulk handling, which was facilitated by continuous improvements from the central warehouse at Mandai. Profi...

Full article: http://thefinance.sg/2016/09/26/explosive-form-of-sheng-s...

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