Sheng Siong share price on a super bull run!
August had been a torrid month for many investors as the unfolding trade war between US and China roiled the stock market. Amid the stock market upheaval, Sheng Siong share price stands out like a shining diamond. Investors are left confounded as the unfolding trade war has absolutely no impact on Sheng Siong share price. To top it off, this counter even surge to a record high of $1.18 in recent days.
Given the bullish form of Sheng Siong share price, investors should have no complaints. Since IPO in 2011, Sheng Siong share price had stormed from $0.33 to the current $1.15 level. Investors are laughing all the way to the bank because of the huge capital appreciation and the consistent dividend pay outs.
The strong business momentum of Sheng Siong saw CEO Lim Hock Chee receiving the SBA’s Businessman of the Year award in early 2019. In 2015, the CEO also received the same award. Indeed, the consistent growth and solid business fundamentals lend support to the form of Sheng Siong share price through the years. Can Sheng Siong share price sustain its blockbuster form in the second half of 2019?
Sheng Siong share price in wonderland
On looking back, 2018 had been a defining year for Sheng Siong as the super-market operator opened ten new stores, bringing the total retail area to an all-time high of 496,200 square feet. Their first store in China, Kunming had its full year of operation in 2018 but recorded a loss of $0.7 million. The management is opening a second store, also in Kunming in 3Q2019.
For FY2018, revenue increased by 7.4% to $890.9 million as compared to FY2017 while net profit grew to $70.5 million, representing a growth of 4.6%. It seems that the growth strategy is simply to increase number of stores for outreach in areas that the operator does not have presence. And this strategy paid off handsomely as Sheng Siong share price continued to power ahead despite the challenging economic condition.
For 1HFY2019, Sheng Siong share price continued to [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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