Sheng Siong Q4 profit flat at S$17.4m; new stores important source of revenue growth

Singapore

HEARTLAND supermarket operator Sheng Siong on Thursday posted a fourth-quarter net profit of S$17.4 million, down 0.4 per cent from S$17.5 million in the same period a year earlier.

Revenue in the three months ended Dec 31, 2019 rose 11.8 per cent to S$247.9 million. Gross profit also rose 11.8 per cent to S$67.4 million.

New stores continued to be an important source of revenue growth, the group said. New stores accounted for an 8.6 pe…

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