Sheng Siong Group reported a net profit of $43.7 million for the third quarter of FY2025 (3QFY2025) ended September 30, marking a 12% year-on-year increase.
For the first nine months of FY2025 (9MFY2025), earnings rose 6.5% year-on-year to $116.1 million.
Revenue for 3QFY2025 climbed 14.4% year-on-year to $415.5 million, driven by the expansion of its store network to 90 outlets, up from 79 in the same period last year. Comparable same-store sales also grew by 4.4% year-on-year.
Gross profit increased by 15.2% year-on-year to $131.1 million, with the gross margin improving slightly by 0.2 percentage points to 31.5%. This was attributed to an optimized sales mix despite rising operational costs.
Other income for the quarter declined 6.3%, primarily due to reduced government grants.
Administrative expenses rose 4.7% year-on-year to $16.0 million, while selling and distribution expenses surged 17.3% to $69.3 million, reflecting higher staffing costs for new store openings and increased variable bonuses tied to stronger financial performance.
Operating cash flow jumped 50.6% year-on-year to $89.0 million, supported by higher profits and improved working capital management.
As of September 30, cash and cash equivalents stood at $393.7 million.
Sheng Siong shares closed at $2.28 on October 30, down 0.87% or 2 cents from the previous session.