New stores and sales lift Sheng Siong’s Q3 profit by 12.4% YoY in Q3

It now has 79 stores.

New stores and improved store sales boosted Sheng Siong Group's net profit by 12.4% YoY to $39.1m in Q3 FY2024.

The supermarket chain increased its stores to 79 from 74, while comparable same-store sales improved by 1.5% YoY.

These two factors also helped lift revenue by 5.0% YoY to $363.2m in Q3.

The higher net profit and revenue boosted Sheng Siong's earnings per share by 13% YoY to $0.026.