Sheng Siong’s H1 profit rises 11.9% to $81m as new stores lift sales

The board declared an interim dividend of $0.0375 per share.

Sheng Siong Group Ltd. posted a net profit of $81m for the six months ended 30 June 2026 (H1 2026), up 11.9% year-on-year (YoY).

Revenue rose 11.9% YoY to $855.4m, up from $764.7m in the same period last year.

The increase was driven mainly by sales contributions from 16 new and comparable new stores opened in FY2025 and the first half of FY2026, along with a 3.3% rise in same-store sales.

The company attributed the same-store sales growth partly to support from CDC vouchers and promotional discounts.

Sheng Siong currently operates 90 stores in Singapore and six stores in Kunming, China.

Gross profit increased 15.6% YoY to $272.4m, whilst gross profit margin improved to 31.8% from 30.8%.

The company said the improvement reflected changes in sales mix and efforts to manage higher operating costs.

The board declared an interim dividend of $0.0375 per share for H1 2026. The dividend will be paid on 28 August 2026.

During H1 2026, Sheng Siong opened four stores at Canberra Crescent, Smith Street/New Bridge Centre, Sembawang Crescent, and Alkaff Crescent.

The group expects to open three more stores in Hougang, Rivervale in Sengkang, and Woodlands in the third quarter of FY2026.

It is also awaiting the outcome of one HDB tender, with two additional tenders expected over the next six to 12 months.

Sheng Siong also began a partnership with Foodpanda in June as part of efforts to expand its online retail operations and offer delivery services to customers.

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