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I feel as a business owner, i honestly think that payment terms and getting your money on time are more practical. Compared to who has the same identity. hahaha
Business is business, blood also no use.
Business is business, blood also no use.
antifragile ( Date: 25-Mar-2025 13:57) Posted:
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Yes, the share price of SS has been stuck in this range.
With new Malaysian supermarket operators entering Singapore, Malaysian suppliers might prefer to work with them due to their expanded scale and procurement power.
Malaysians working for SS might also choose to switch to the new operator if Macrovalue starts hiring staff aggressively.
PE: 18x
PB: 5X
nott1965 ( Date: 25-Mar-2025 12:41) Posted:
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Expect abnormal profits to fall from now onwards as Malaysian-based Macrovalue will beat them in pricing of products, especially those from Malaysia. Time to sell
I support this supermarket
Joelton ( Date: 28-Feb-2025 11:31) Posted:
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Sheng Siong Group reports earnings of $137.5 mil for FY2024, up 2.9% y-o-y
Sheng Siong Group has reported earnings of $137.5 million for FY2024 ended Dec 31, 2024, up 2.9% y-o-y. For the 2HFY2024, earnings decreased 1% y-o-y to $67.6 million.
Earnings per share for FY2024 came in at 9.15 cents per share.
For the reporting period FY2024, revenue for the group grew 4.5% y-o-y to US$1.43 billion, driven by the opening of six new stores in FY2024, and two comparable new stores opened in FY2023 in Singapore, and the improved performance of the existing stores.
Revenue for 2HFY2024 came in 5.5% y-o-y higher at $714.5 million.
In line with revenue, gross profit grew by 6.1% in FY2024 to $435.5 million with a slight increase in the gross margin of 0.5 ppts to 30.5%. This was primarily attributed to the improvement in sales mix that helped offset elevated business costs.
Administrative expenses increased by 17.9% to $58.5 million in FY2024, while selling and distribution expenses increased by 6.8% to $236.5 million. They are primarily due to higher staff costs from increased variable bonuses, reflected by our stronger financial performance, enhanced employment benefits, and a larger workforce to support new store openings.
In FY2024, cash flow generated from operating activities increased by 23.7% y-o-y to $219.0 million, mainly due to higher vendor payments for working capital requirements in FY2023.
The group ended the year with cash and cash equivalents balance of $353.4 million as at Dec 31, 2024, marking an 8.9% increase from $324.4 million at the end of FY2023.
The board of directors has proposed a final dividend of 3.20 cents per share, and combined with the interim dividend of 3.20 cents per share, the total dividend for FY2024 amounts to 6.40 cents per share. Payout ratio remains at 70%
Although Singapore&rsquo s overall retail sales index declined by 0.7% and 2.9% y-o-y in November and December 2024, the supermarket and hypermarket sector continued to grow, recording y-o-y increases of 2.0% and 0.8%, respectively.
Looking ahead to 2025, the sector is expected to maintain its upward trajectory, driven by broader economic and consumer trends.
&ldquo Despite challenges in the macroeconomic and trade environment, our diversified supply chain allows us to manage costs effectively while maintaining a wide and reliable product selection for customers. We continue to focus on enhancing our margins by refining the sales mix, improving cost efficiencies, and strategically growing our store footprint to serve communities better and drive sustainable growth,&rdquo says Lim Hock Chee, Sheng Siong&rsquo s group CEO.
&ldquo In line with our expansion strategy, we have opened 8 new stores in Singapore as of today since the beginning of FY2024, along with the launch of our 6th Store in Kunming, China. Additionally, we are awaiting the tender results for 8 stores by HDB. With a stable HDB housing supply pipeline, we remain confident in the future expansion opportunities to strengthen our presence across Singapore.&rdquo
FOR IMMEDIATE RELEASE
Sheng Siong Group delivers a net profit growth of
2.6% to S$137.5 million in FY2024 despite rising business costs
Sheng Siong Group delivers a net profit growth of
2.6% to S$137.5 million in FY2024 despite rising business costs
- FY2024 revenue rose 4.5% yoy driven by new store sales and higher same-store sales.
- An improved sales mix enabled the Group&rsquo s gross profit to rise 6.1% to S$435.5 million
- Strong start to 2025 with the launch of 2 new stores in Singapore. Results of 8 tenders to be released in the coming months.
- Proposed final dividend of 3.20 cents per share, total dividend of 6.40 cents per share for FY2024.
RTS will be ready by 2026. What is Sheng Shiong' s plan?
Sheng Siong reports 3QFY2024 earnings of $39.1 mil, up 12.4% y-o-y
Sheng Siong Group has reported earnings of $39.1 million for 3QFY2024 ended September, up 12.4% y-o-y from the same period last year.
Earnings per share stood at 2.6 cents, up from 2.3 cents in 3QFY2023.
For the same period, the group&rsquo s revenue saw a 5% y-o-y increase to $363.2 million. This came on the back of the net increase in total stores to 79, up from 74 in the same period last year. In addition, the group says comparable same store sales rose by 1.5% y-o-y.
Accordingly, gross profit for 3QFY2024 stood at $113.8 million, up 8.4% y-o-y. The group&rsquo s gross profit margin saw a slight increase by 1.0 percentage points (ppt) to 31.3%, due to an improvement in sales mix, which offset elevated business costs.
Additionally, other income for the period increased by 96.5%, driven by the receipt of the progressive wage credit scheme grant in 3QFY2024.
Administrative expenses rose by 15.9% y-o-y to $15.3 million in 3QFY2024, while selling and distribution expenses increased by 6.4% y-o-y to $59.1 million.
For 3QFY2024, the group&rsquo s generated cash flow from operating activities rose by 7.6% y-o-y to $59.1 million, due to higher profit reported in this period. As at Sept 30, the group ended the quarter with a cash and cash equivalents balance of $350.1 million.
Moving forward, the group expects competition in Singapore' s supermarket industry to remain high. Additional uncertainties such as rising labour and energy costs and the increasing focus on sustainability, which could contribute to higher operational expenses, are also expected.
In response, the group says it remains focused on &ldquo strengthening its core competencies and diversifying its supply chain to build a more resilient network capable of withstanding external disruptions&rsquo .
Lim Hock Chee, CEO of Sheng Siong Group OV8 , says: &ldquo Looking ahead, we will continue to focus on driving sustainable growth by enhancing our operational efficiency, expanding our product offerings, and strengthening strategic partnerships.&rdquo
He adds that the group has since opened five new stores, which include an addition at Blk 512 Bishan Street 13, as part of its ongoing efforts to strengthen Sheng Siong&rsquo s presence.
Now this is a good supermarket.
Stable investment
Stable investment
Sheng Siong Group&rsquo s net profit increases 12.4% to S$39.1 million for 3Q FY2024
Revenue rose 5.0% to S$363.2 million, driven by new store openings and an improvement in comparable same store sales
Gross profit margin improved 1.0 percentage points to 31.3% due to a better product mix.
The Group plans to operate the newly acquired Toa Payoh store by year-end and has another four tenders for new stores pending results.
https://links.sgx.com/1.0.0/corporate-announcements/SXCGQN7O6RY0E5VM/823399_SSG%20-%203QFY2024%20-%20Press%20Release.pdf
Revenue rose 5.0% to S$363.2 million, driven by new store openings and an improvement in comparable same store sales
Gross profit margin improved 1.0 percentage points to 31.3% due to a better product mix.
The Group plans to operate the newly acquired Toa Payoh store by year-end and has another four tenders for new stores pending results.
https://links.sgx.com/1.0.0/corporate-announcements/SXCGQN7O6RY0E5VM/823399_SSG%20-%203QFY2024%20-%20Press%20Release.pdf
Sheng Siong very slow in moving up. Not a fast moving counter
Longer sales period pre-Lunar New Year boosts Sheng Siong&rsquo s 1HFY2024 revenue, net profit up 6.8% y-o-y to $70 mil
Sheng Siong Group has reported a net profit of $70 million for its 1HFY2024 ended June, a 6.8% increase from the previous corresponding period.
Revenue increased 3.4% to $714.2 million, from $690.5 million recorded in 1HFY2023. This was largely driven by a longer sales period prior to the Lunar New Year which fell in February.
Gross profit grew 4.8% y-o-y to $215 million, while profit margins recorded a slight 0.4 percentage points growth to 30.1%.
In 1HFY2024, Sheng Siong&rsquo s selling and distribution expenses increased by 3.5% to $113.5 million while administrative expenses increased by 14.1% to $27.9 million. These were largely attributed to higher staff variable bonuses due to stronger financial performance.
Cash flow from operating activities increased to $93 million compared to $77.8 million in the same period last year where more funds were utilised to pay suppliers.
As at June, Sheng Siong&rsquo s cash position stood at $349.6 million, which increased from S$324.4 million as at Dec 31, 2023.
Following the resilient financial performance, Sheng Siong plans an interim dividend of 3.2 cents per share.
Elaborating on its expansion strategy in Singapore, the company notes that it has opened two new stores and expanded the retail area of one store in 1HFY2024, aside from opening another two in July.
&ldquo The group has also tendered for three new stores and is awaiting the results. Meanwhile, the supply pipeline of new stores is promising, with an expected seven stores put up for tender by HDB in 2HFY2024. In China, as planned, we opened one store in June 2024, bringing the total number of stores to six,&rdquo says its CEO Lim Hock Chee.
Wow not bad for this six month?s performance .
DFI will be also doing very good, dividends should be at least 5 cents
Dyodd
DFI will be also doing very good, dividends should be at least 5 cents
Dyodd
FOR IMMEDIATE RELEASE
Sheng Siong Group delivers an increase in net profit
of 6.8% to S$70.0 million for 1H FY2024
Revenue increased by 3.4% yoy to S$714.2 million with more contributions from
existing stores during the longer sales period before the Lunar New Year.
The gross profit margin improved 0.4 percentage points to 30.1%, mainly due to a
better sales mix.
The Group has added four new stores in the year-to-date, and eyes another seven
that HDB is expected to put up for tender in the coming months.
Declares interim dividend of 3.20 Singapore cents per share....
https://links.sgx.com/1.0.0/corporate-announcements/0URATFQZOTTSFHV0/813323_SSG%20-%201HFY2024%20-%20Press%20Release.pdf
Sheng Siong Group delivers an increase in net profit
of 6.8% to S$70.0 million for 1H FY2024
Revenue increased by 3.4% yoy to S$714.2 million with more contributions from
existing stores during the longer sales period before the Lunar New Year.
The gross profit margin improved 0.4 percentage points to 30.1%, mainly due to a
better sales mix.
The Group has added four new stores in the year-to-date, and eyes another seven
that HDB is expected to put up for tender in the coming months.
Declares interim dividend of 3.20 Singapore cents per share....
https://links.sgx.com/1.0.0/corporate-announcements/0URATFQZOTTSFHV0/813323_SSG%20-%201HFY2024%20-%20Press%20Release.pdf
Should be another good quarter. Looking forward to higher dividend.
Steady growth with sustainable expansion.
Good work SS
Good work SS
Sheng Siong Q1 net profit up 9.3% on higher revenue
Earnings were partly supported by a longer sales period before the Chinese New Year festive season
SUPERMARKET chain Sheng Siong : OV8 +0.65% on Thursday (Apr 25) posted a 9.3 per cent rise in net profit to S$36.3 million for its first quarter ended Mar 31, from S$33.2 million the year before.
Revenue for the quarter rose 5.5 per cent to S$376.2 million from S$356.5 million, mainly driven by higher same store sales, said the group in a bourse filing.
The higher revenue was also supported by a longer sales period before the Chinese New Year festive season &ndash which fell in February this year &ndash as compared to January last year, it added.
Gross profit margin improved 0.6 percentage point to 29.4 per cent in Q1, from 28.8 per cent. This was primarily due to the group&rsquo s continued efforts in optimising the sales mix and addressing increased staff costs and utility expenses.
The group recorded higher operating expenses for the quarter. This was attributed to selling and distribution expenses rising 7.2 per cent to S$58.1 million on the year, as well as administrative expenses rising 15.6 per cent to S$14.5 million &ndash of which were due to higher staff variable bonuses, as a result of better financial performance.
The global economy continues to face uncertainty and risks in 2024, noted Sheng Siong, pointing out persistent inflation, supply chain disruptions, geopolitical conflicts and a tight labour market.
Competition in the retail market also &ldquo remains intense&rdquo , with active promotions being launched by competitors. Coupled with escalating labour costs driven by manpower shortage and higher energy costs, the group said it could face margin pressures.
Lim Hock Chee, chief executive officer of Sheng Siong, said: &ldquo Despite economic uncertainty, the group has demonstrated resilience and maintains its commitment to providing customers with quality products at affordable prices.&rdquo
He added that the group will diversify its supply chain and refine its sales mix towards higher-margin products in order to manage risks effectively.
The group will also remain &ldquo proactive&rdquo in seeking retail space in new and existing housing estates to open more stores, having opened two new stores in FY2023 and one store in Q1 FY2024. It is currently awaiting the results of four outstanding tenders.
The group&rsquo s local store expansion strategy continues to be supported by a &ldquo robust&rdquo supply pipeline of HDB housing, Lim said. Another six stores are expected to be put up for tender in the next six months.
He added that the group&rsquo s operations in China are also experiencing &ldquo steady growth&rdquo , with a sixth store set to open there in the second quarter of FY2024.
Looks like Dairy farm has business. Consider its shares.
NTUC we can only own 20 shares of a dollar each as co-op owner
NTUC we can only own 20 shares of a dollar each as co-op owner
Cold storage is nice.