Sheng Siong Q2 profit up 30.3%
SHENG Siong Group Ltd yesterday posted a 30.3 per cent rise in net profit for the fiscal second quarter ended June 30, on higher profit margin.
With a 7.4 per cent increase in turnover to S$171.56 million, gross profit rose 14.3 per cent to S$42.32 million. Net profit rose to S$11.07 million, or 0.80 cents per share.
A 1.5 cent per share interim dividend, payable on Aug 29, has been declared. The homegrown supermarket chain said although competition remained strong, selling prices were stable, but with a slight downward bias. Input prices continue to improve mainly because of savings derived from the Mandai Distribution Centre.
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