- We see Sheng Siong (SGX:OV8)’s growth going forward driven by the 12 new stores it opened in FY25, which are set to contribute full 12-month earnings from FY26. FY25 results were in line, with growth driven by new stores and firm SSSG.
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FY25 earnings in line.
- Sheng Siong (SGX:OV8)’s FY25 revenue and earnings of S$1.6bn and S$149m (+9% y-o-y) were in line with our forecasts. Revenue growth of 10% y-o-y was largely contributed by new stores and SSSG of 1.4%.
- Sheng Siong (SGX:OV8) closed FY25 with 87 outlets, adding 12 new stores. China sales were flat. Revenue per sq ft stood flat y-o-y at S$2,182.
- - Read this at SGinvestors.io -
- A final dividend of 3.80 cents was declared, bringing total Sheng Siong's dividends for the year to 7 cents. This works out to a dividend payout ratio of ~70%.
New stores to drive growth.
- Read more at SGinvestors.io.
