Higher revenue, margin lift Sheng Siong Q3 profit

SUPERMARKET chain Sheng Siong Group turned in a better overall performance in the quarter just ended, compared to a year ago, as new stores added to its top line.

It announced yesterday that revenue grew 4.8 per cent year-on-year to $177.8 million for the third quarter ended Sept 30, 2013, from $169.7 million the year before.

This was largely because of increased contribution from new stores - three stores opened in 2011 and eight opened in 2012 - of $12.6 million, the group said, adding: "This was partially offset by a contraction in comparable same store sales of $4.5 million."