Sheng Siong Group rings in higher profit, sales in Q4
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.