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Sheng Siong sees challenges as it posts higher Q4 profit

Net profit up 16.7% to $9.3m as revenue rises 5.9% to $170m

SHENG Siong Group guided for a challenging year ahead even as it raised its bottom line by 16.7 per cent in the fourth quarter, roughly in line with expectations.

Net profit for the three months ended December rose to $9.3 million, or 0.67 cent per share, the grocer announced yesterday after the market closed. Revenue gained 5.9 per cent to $170.4 million during the quarter, representing a 0.5 percentage point improvement in net profit margin to 5.5 per cent.

Net profit for the full 2013 slipped 6.6...

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