Sheng Siong posts 16.4% profit increase

Singapore

DRIVEN by the contribution from new stores, revenue of supermarket chain Sheng Siong Group rose 11.4 per cent to S$253.8 million. Together with improved gross profit margin, the higher top line lifted net profit by 16.4 per cent to S$20.6 million for the third quarter ended Sept 30.

In its statement released on Wednesday, the supermarket chain posted better performance for the quarter despite slightly weaker same store sales.