Sheng Shiong net profit up 8.3% y-o-y to $34.4m for 3Q FY2021

Gross profit also saw a jump by 14.2% to $100.9m.

Sheng Siong reported a net profit y-o-y growth of 8.3% to $34.4m for 3Q FY2021.

Revenue for the same period also increased by 6.4% to $348.1m, owing to the rising cases of community infection.

As a result of this, gross profit also saw an increase by 14.2% y-o-y to $100.9m. The gross margin had an improvement of 2 percentage points to 29% in 3Q FY2021, due to an improved sales mix of products with a higher margin.

Administrative expenses bumped up by 1.4% y-o-y to $58.2m in 3Q FY2021, due to an absence of property tax rebates.

Cash generated from operating activities amounted to $45.8m in the period, with total cash and cash equivalent standing at $235.5m as of September 30, 2021.

Going forward, Lim Hock Chee, CEO, said that they expected the relaxation of border controls to help with the manpower crunch. Expansion into China is also expected, as a fourth store is expected to be operational by the end of 2021.

Follow the link for more news on

Sheng Siong

financial report

Also Read

Changi Airports and Hainan Meilan form JV for non-aero services

F&B brands remain key drivers of retail leasing in Q3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit