Sheng Siong’s net profit rises 6.1% YoY to $38.5m in Q125

Revenue rose in tandem.

New store openings and improved performance across existing outlets pushed Sheng Siong Group's net profit up by 6.1% year-on-year (YoY) to $38.5m in the first quarter of the year (Q1 2025).

Revenue also grew, rising 7.1% YoY to $403m.

Sheng Siong attributed the revenue growth to the addition of eight new stores during the period and sales from the Hari Raya festival in March.

Other income surged 18.1% YoY to $4.7m, boosted by higher rental income from expanded leased retail space and government grants under the Progressive Wage Credit Scheme.

With higher net profit, earnings per share increased by 6.2% to $0.0257 from $0.0242 in Q1 2024.

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