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Analysts mixed on Sheng Siong with warnings of ‘tougher times ahead’ amid recent reopening measures

Chloe Lim
Chloe Lim4/28/2022 02:04 PM GMT+08  • 5 min read
Analysts mixed on Sheng Siong with warnings of ‘tougher times ahead’ amid recent reopening measures
Sheng Siong reported revenue of $358 million for the quarter, 6% up y-o-y, while net profit increased 13.9% to $35.2 million
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Analysts are mixed on Sheng Siong after the supermarket operator posted a strong set of results for the 1QFY2022 ended March.

Some are positive on the group’s prospects, while others are more sceptical about keeping sales up with the most recent reopening measures.

Earlier this week, Sheng Siong reported revenue of $358 million for the quarter, 6% up y-o-y, while net profit increased 13.9% to $35.2 million, up from the 1QFY2021 figure of $30.9 million.

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