Sheng Siong Q4 earnings up on better revenue, margins

Singapore

BOOSTED by higher revenue and improved gross margins, supermarket group Sheng Siong reported a near 24 per cent year-on-year jump in net profit to S$14.61 million for the fourth quarter ended Dec 31, 2015.

The quarter also saw other income rising to S$1.95 million from S$875,000. Revenue edged up nearly 5 per cent at S$187.1 million as new stores contributed 6.6 per cent to the topline. This was offset by a slight contraction from same store sales of 1.7 per cent. The group opened five new stores last year, taking its total number of stores to 39.