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SINGAPORE – Supermarket chain Sheng Siong posted a 7 per cent increase in net profit to $69.9 million for the first half ended June 30, from $65.4 million the year before.
Revenue grew 3.4 per cent year on year to $714.2 million, driven by a longer sales period before Chinese New Year, Sheng Siong said on July 29.
“The group’s profit margins remained relatively stable in the first half, with a slight growth of 0.4 percentage point to 30.1 per cent, mainly due to improvements in the sales mix, but also to address rising staff costs,” the group said.
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Sheng Siong’s first-half net profit up 7% higher in revenue
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31-Jul 2024 Wednesday
3:13 PM (41 days ago)
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