Supermarket chain Sheng Siong's Q1 net profit up 16.8%

 Sheng Siong reported that net profit for the quarter ended March 31 went up 16.8 per cent to stand at S$16.4 million.
Sheng Siong reported that net profit for the quarter ended March 31 went up 16.8 per cent to stand at S$16.4 million.PHOTO: ST FILE

SINGAPORE - Supermarket chain Sheng Siong reported first-quarter net profit was up 16.8 per cent at S$16.4 million .

Revenue for the three months to March 31 inched up 5.1 per cent to S$208.5 million, compared with the same period a year ago.

Sheng Siong noted "tepid Chinese New Year demand, ongoing renovation in the vicinity of our Loyang store, the fall in liquor sales in our Geylang store and the Woodlands store which was affected by the weaker ringgit", which had an impact on sales.

Quarterly earnings per share were 1.09 cents, up from 0.94 cents a year ago, while net asset value per share was 17.33 cents as at Mar 31, up from 16.24 cents a year ago.

rachaelb@sph.com.sg