- We continue to like Sheng Siong (SGX:OV8) for its earnings growth momentum, strong cash flow generation, stable balance sheet, and good dividend payouts. 3Q25 results were in line, with growth driven by new stores and firm SSSG.
- - Read this at SGinvestors.io -
3Q25 earnings within expectations.
- For 3Q25, Sheng Siong reported revenue and earnings of S$416m (+14% y-o-y) and S$44m (+12% y-o-y), in line with our estimates.
- - Read this at SGinvestors.io -
- GPM was 31.5% (+1 ppt), in line with our projection. The improvement was largely due to a better sales mix that tilted towards higher-margin products, especially fresh items, and partly due to improved pricing.
- Annual sales per sq ft was S$2,297 (+1.5%), stemming from improved sales during the seventh lunar month festive period, as well as the SG60 supermarket vouchers distributed to Singaporeans by the Government. EBIT margin was 12.4%, i.e. within expectations.
Outlook remains positive.
- Read more at SGinvestors.io.
