Where to Next for Sheng Siong’s Share Price? 5 Things to Note from the Supermarket Operator’s Latest Earnings

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 71%

Business News News

Business Business Latest News,Business Business Headlines

Sheng Siong reported a 6% YOY increase in revenue to S$358 million.

The group has once again demonstrated its ability to continue growing with its latest fiscal 2022 first quarter business update.Continued growth in top and bottom linesOf this six percentage-point increase, 4.7% was attributed to higher same-store sales for its Singapore stores, while its China division saw same-store sales inching up by 1% year on year.Gross profit rose 9.8% year on year to S$102.7 million while net profit jumped by 13.9% year on year to S$35.2 million.

This track record has continued in 1Q2022, with the group generating S$20.6 million of free cash flow. An increase in households cooking instead of eating out may spur demand for Sheng Siong’s products, helping to mitigate some of the negative impacts of the easing of restrictions.Despite these challenges, Sheng Siong is determined to forge on with its new store opening plans.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines