Sheng Siong Group rings in higher profit, sales in Q4
Published on Feb 20, 2014 9:45 PM
Supermarket operator Sheng Siong Group has ringed in higher earnings in the fourth quarter.
Net profit for the three months to Dec 31 climbed by 16.7 per cent to $9.3 million as revenue rose by 5.9 per cent to $170.4 million.
Full year net profit, however, fell by 6.6 per cent to $38.9 million despite revenue rising 7.9 per cent to $687.4 million.
Excluding a one-time gain of $10.5 million from the sale of warehouse and a provision of $1.6 million for prior year's tax in 2012, net profit for 2013 would have been 18.6 per cent higher.
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