Sheng Siong Q2 net profit up 6.4% at S$17.1m

Singapore

SUPERMARKET chain Sheng Siong Group's net profit grew 6.4 per cent to S$17.1 million for the second quarter ended June 30, up from S$16.1 million in the year-ago period, the group announced on Monday evening after the market closed.

This was on the back of a 5.7 per cent rise in revenue to S$213 million, mainly contributed by the opening of new stores - four in the first quarter and three in the last five months of FY 2017 - and comparable sales from existing stores.