- Sheng Siong (SGX:OV8)’s 2Q25 revenue increased 7.0% y-o-y to S$361.7m, primarily driven by new stores opening. Selling and distribution expenses rose 14.5% y-o-y during the quarter, mainly due to increased staff cost driven by the opening of new stores.
In-line set of results.
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- PATMI increased marginally by 0.5% y-o-y to S$33.8m in 2Q25, bringing 1H25 PATMI to S$72.3m, in-line with our expectations.
- An interim dividend of 3.20 Singapore cents per share was declared, same as last year.
Topline growth supported by new store openings.
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- We note that Sheng Siong added two new stores in Jul 2025 with another one expected to open in 3Q25. Sheng Siong is awaiting the tender results of another three new stores and an additional three HDB stores are expected to be released for tender by Jun 2026.
Sheng Siong is a beneficiary of the government cash handouts.
- Read more at SGinvestors.io.
