
Check out these weak links that badgered Sheng Siong's Q1 performance
Its revenue growth was offset by the flattish same store sales.
Sheng Siong reported a decent set of results for the past quarter, with its revenue inching up 4.1% to $217m.
According to OCBC Investment Research, Sheng Siong's performance might have been more stellar without the group's comparable same store sales (SSSG).
This was driven by three things. For one, the brokerage firm cited Sheng Siong saying that a few stores located in areas near the oil and gas industry were affected.
Meanwhile the group's 9,800-sq ft. Block 506 Tampines was closed for renovation. To recall, the group is aiming to expand this site to 25,000 sq ft.
The last headache for the company was the inevitably slow performance at the Woodlands store that is slated for closure by the end of August this year.