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Sheng Siong’s Q3 profit rises 1.9% to S$44.6 million
The Business Times reports revenue rose 6.2% to S$441.5 million, helped by more Singapore stores and better same-store sales.
TLDR
The Business Times reports Sheng Siong’s third-quarter profit rose 1.9% to S$44.6 million, while revenue grew 6.2% to S$441.5 million. Sheng Siong credited its increase from 84 to 92 Singapore stores and better same-store sales for the revenue gain. It warned that sustained promotions may pressure revenue and margins, while the upcoming Johor Bahru–Singapore RTS Link may increase cross-border shopping and price competition for selected packaged groceries and household products.
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