Sheng Siong posts 12% rise in Q1 net profit

Singapore

SUPERMARKET operator Sheng Siong Group has posted a 12.2 per cent jump in net profit to S$14.06 million for the first quarter ended March 2015 from a year ago on higher revenue and improved gross margin.

Revenue improved nearly 5 per cent to S$198.4 million from S$189.7 million, owing to two new stores - one in Penjuru and the other in Tampines Central - and comparable same store sales growth.