Sheng Siong - DBS Research 2025-08-01: Well-positioned To Benefit From SG60 Voucher Boost

• Sheng Siong (SGX:OV8) reported revenue of S$362mil (+7% y-o-y) and earnings of S$34mil (+1% y-o-y). For 1H25, revenue and earnings formed 49% of our FY25F estimates, on track.
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• Revenue growth led by new store openings. New stores contributed ~+6% y-o-y to revenue growth, while China added ~+0.5% y-o-y, likely due to the ramp-up of sales at the new store launched in 2Q24. Same-store sales were broadly flat y-o-y.
• Sheng Siong kept interim interim dividends of 3.2 cents unchanged y-o-y.

Eight new stores confirmed with three tender results pending.

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Analyst briefing key takeaways

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Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-10-22 Sheng Siong - Becoming Singapore’s Clear No. 2 Grocer; Path To 120 Stores and Beyond.

Price targets by 5 other brokers at Sheng Siong Target Prices.

Listing of research reports at Sheng Siong Analyst Reports.

Relevant links:
Sheng Siong Share Price History,
Sheng Siong Announcements,
Sheng Siong Dividend Payout Dates & Corporate Actions,
Sheng Siong News