Link: https://links.sgx.com/1.0.0/corporate-announcements/XKHXGTJ50KX9XHTD/4f497050f5ee21aef60127a2b16ab2529b42098fbe17b43fd65b09ff43e8edce

Summary:

• Sheng Siong Group Ltd. reported a net profit of S$38.5 million for the three months ended March 31, 2025 (1Q FY2025), a 6.1% increase year-on-year.
• Revenue for the quarter grew by 7.1% to S$403.0 million, primarily driven by the opening of new stores and higher sales during the Hari Raya festive period.
• Gross profit increased by 10.2% to S$122.0 million, resulting in an improved gross profit margin of 30.3%.
• Other income rose by 18.1% to S$4.7 million, supported by higher rental income and government grants.
• During 1Q FY2025, the Group opened 2 new stores and successfully secured 6 additional retail locations.
• The company is focused on optimizing its sales mix, diversifying its supplier base, and investing in automation and AI technology.
• Sheng Siong's strategy of offering value-for-money products positions the company well to meet the evolving needs of consumers in the current uncertain economic climate.