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Sheng Siong posts stronger profits for Q4FY15 on better margins

SUPERMARKET group Sheng Siong reported a near 24 per cent jump year on year in profit to S$14.61 million for the fourth quarter ended 31 Dec 2015, thanks to improved gross margins.

Revenue edged up by close to five per cent to S$187.1 million as new stores contributed to the topline. This was offset by a slight contraction from same store sales.

For the full year, net profit rose 19.3 per cent to S$56.78 million due to higher revenue, improved gross margin, higher other income and net tax refunds. Meanwhile, revenue increased 5.3 per cent to S$764.43 million.

Earnings per share came to 0.97 cent, up from 0.78 cent a year ago.

A final dividend of 1.75 cents was proposed, up from 1.5 cents a year ago.