- Sheng Siong (SGX:OV8)’s 2025 revenue of S$1.57b (+9.9% y-o-y) and PATMI of S$149.5m (+8.7% y-o-y) came in at 99% of our forecasts. Earnings growth stemmed from continued store expansion and higher gross margin of 31.3% (+0.8ppt y-o-y) on a better sales mix.
- - Read this at SGinvestors.io -
Continued market share gains.
- 2025 revenue growth more than doubled that of 2024’s (4.5%), driven by 12 new store openings in 2025 and six comparable new stores opened in 2024. Same-store sales (SSS) rose 1.4% y-o-y, indicating resilient demand despite cautious consumer spending.
- Sheng Siong continued to outperform national retail sales benchmarks, highlighting sustained market share gains (see graph on next page).
Higher dividend backed by strong balance sheet.
- - Read this at SGinvestors.io -
- Sheng Siong ended 2025 with a robust net cash position of S$435.5m.
Record year for store openings.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Heidi Mo UOB Kay Hian Research | Tang Kai Jie UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-03-03
Read also UOB's most recent report:
2026-05-04 Sheng Siong Group 1Q26 - Scaling The Heartlands; Growth On Track.
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
