Published:
Sheng Siong's net profit up 12.2% to $14.1m in Q1
On back of higher turnover.
Sheng Siong reported that its net profit grew 12.2% year-on-year to $14.1m in the first quarter of the year, driven by higher turnover and improved gross margin.
Revenue increased by 4.6% yoy in the quarter, of which 1.7% was contributed by two new stores in
Penjuru and Block 506 Tampines Central, and 2.9% by comparable same store sales from the old stores.
Gross margin increased to 24.4% in 1Q2015 compared with 23.8% in 1Q2014, driven mainly by the
reduction in input costs derived from the distribution centre
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