- Sheng Siong’s attractive financial metrics include an ROE of 27%, a dividend yield of 3.8%, and net cash of S$367mil (as at Mar 2025).
- - Read this at SGinvestors.io -
- Sheng Siong is on track to open at least 8 new stores in FY25 (~10% in footprint). This is the 2nd largest expansion of stores since the 10 in 2018. The major difference is the current expansion is largely due to competitors exiting stores.
- We lift our FY25e revenue and earnings forecast by 2% from the higher number of expected stores.
The Positive
Acceleration in new stores and rising gross margin.
- - Read this at SGinvestors.io -
- Gross margins expanded on higher fresh food contribution, more direct sourcing, and greater scale in purchasing.
The Negative
Faster operating expenses.
- Read more at SGinvestors.io.
