Supermarket operator Sheng Siong is no longer the super stock that analysts are looking at. With an end in sight for the Covid-19 pandemic, the stock is likely to normalise from here on, say analysts.

Already, in its latest 1HFY2021 results ended June, Sheng Siong recorded an 11.9% y-o-y drop in earnings to $65.9 million, bringing earnings per share to 4.39 cents, an 11.8% y-o-y decline from the previous year. This was as revenue fell by 8.8% y-o-y to $681.7 million, coming down from last year’s high base that was underpinned by an elevated demand from consumers panic buying as the government announced the circuit breaker measures.

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