On a half-year basis, 1H20 earnings came in at $74.8 million, almost double that of $37.8 million recorded in 1H19.
Since the Singapore government raised the DORSCON level to Orange in early February this year, panic buying spread across the nation and supermarket shelves were emptied faster than it could be replenished.
On the back of the increased demand of essential groceries during the Covid-19 period, supermarket operator Sheng Siong saw a 150.7% surge in 2Q20 earnings to $46.1 million, from $28.4 million in 2Q19.
