Sheng Siong - Good Result But Neither Up nor Down

SUPERMARKET operator Sheng Siong on Wednesday posted a net profit of S$32.1 million for the fourth quarter ended Dec 31, up 84.9 per cent from S$17.4 million a year ago.

Riding on elevated demand driven by the pandemic, revenue rose 28.8 per cent to S$319.3 million from S$247.9 million in Q4 2019. The increase was attributed to better performance at existing stores (18.2 percentage points) and new stores opened in 2020 (10.6 percentage points).

Sheng Siong announce good result but price neither rise or falls as it is not expected to perform that well again as per during the locked down.   

Many stocks that rise during the COVID-19 locked down are under selling pressures as many are overvalued. 

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Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.