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[SINGAPORE] Supermarket operator Sheng Siong reported a 3.5 per cent increase in H1 2025 net profit to S$72.3 million, from S$69.9 million in H1 2024 on Wednesday (Jul 30).
Revenue for the period grew 7.1 per cent to S$764.7 million, from S$714.2 million. This was mainly driven by the opening of 11 new stores in the first half of 2025 and in 2024.
Gross profit also rose 9.6 per cent to S$235.6 million, from S$215 million. Gross profit margins increased to 30.8 per cent, from 30.1 per cent. The improvements were driven by a better sales mix and efforts to mitigate rising business operation costs.
The board of directors proposed an unchanged interim dividend of S$0.032 per share, payable on Aug 29.
“Backed by a store count of 82 as of July 2025, we will continue to prioritise expansion in areas where the group has limited presence,” said Lim Hock Chee, CEO, Sheng Siong.
Macroeconomic uncertainties, cautious consumer spending and a tight labour market are some challenges ahead for the supermarket operator. Regulatory requirements such as sustainability and climate reporting are also expected to add to operational expenses.
Sheng Siong will prioritise improving its sales mix while looking to technology to enhance efficiency and productivity.
“In parallel, we remain focused on strategically tendering for new stores to further strengthen our presence and extend our reach to deliver sustainable value to our shareholders,” said Lim.
Shares of Sheng Siong closed down 0.5 per cent or S$0.01 at S$2.13 on Wednesday, before the results were released.
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