- Sheng Siong (SGX:OV8)'s 1H24 revenue came in at S$714mil and earnings at S$70mil, up 3% and 7% y-o-y, respectively. Revenue growth was largely driven by comparable same-store sales growth of 6.4% y-o-y, offset by lower new store sales contribution, which was down 2.9%.
China sales declined by 0.1% on higher competition.
- - Read this at SGinvestors.io -
- Nonetheless, Sheng Siong provides a unique value proposition in terms of better hygiene and concept innovation with the Sheng Siong Plus concept that has a wider range of offerings for customers.
2Q24 revenue and earnings came in at S$338mil and S$34mil, up 1% and 5% y-o-y, respectively.
- - Read this at SGinvestors.io -
Declared 3.2 cents interim dividend.
- Sheng Siong increased its dividend (vs. 3.07 cents in 1H23), in line with higher earnings, at a 4% y-o-y increase. It continued to maintain its payout ratio of ~70%. See Sheng Siong's dividend dates.
Jump in number of HDB supermarkets up for tender.
- Read more at SGinvestors.io.
