Sheng Siong sees 3.4% increase in H1 net profit

Five new stores opened in H1 2025, and 3 additional new stores are opening in Q3 2025.

Sheng Siong Group reported that its net profit increased by 3.4% to $72.3m in the first half (H1) of 2025 driven by store count expansion.

In a bourse filing, the company also said its revenue rose by 7.1% to $764.7m, thanks to new store openings, six of which were in 2024 and five in H1 2025.

Three more new stores are set to open in the third quarter.

Meanwhile, Sheng Siong's gross profit increased 9.6% to $235.6m. There was also an improvement in gross profit margin to 30.8% in H1, mainly attributable to improvements in the sales mix whilst navigating the rising business operation costs.

Other income increased by 7.6% to $7.8m, supported by higher operating lease income and more government grants received.

An interim dividend of 3.20 cents per share was proposed by the group’s board of directors.

Sheng Siong said it will now focus on building core capabilities by prioritising sales mix, improving efficiency and productivity through technology enhancements, automation, and supply chain diversification amidst tight competition in the supermarket industry.

The group will also push for growth by continuously expanding its network of stores in Singapore, particularly in areas where the group has limited presence.