Sheng Siong Group posted a net profit of S$43.4 million for the three months ended 31 March 2026, a 12.6 per cent year-on-year increase that management attributed to contributions from recently opened outlets and higher festive spending during the Lunar New Year and Hari Raya Puasa periods.
Earnings per share rose 11.7 per cent to 2.87 Singapore cents. The company did not declare a dividend for the quarter. Consolidated revenue climbed 12.4 per cent YoY to S$452.8 million, while gross profit improved 15.0 per cent to S$140.3 million, lifting the gross margin by 0.7 percentage point to 31.0 per cent.
The top-line expansion was driven mainly by 12 stores opened in FY2025, which bolstered sales across fresh produce and house-brand staples. Other income increased 26.6 per cent to S$6.0 million on higher Progressive Wage Credit Scheme grants and smaller foreign-exchange losses. Operating cash flow strengthened by S$11.6 million, and cash and cash equivalents stood at S$461.1 million at quarter-end, up 5.9 per cent from end-December.
Operating expenses rose faster than sales, with selling and distribution costs up 15.6 per cent to S$76.1 million and administrative expenses up 12.8 per cent to S$17.8 million, reflecting a larger workforce, higher variable bonuses and additional lease-related depreciation from new stores and the upcoming Sungei Kadut distribution centre.
Looking ahead, Sheng Siong is preparing to open two supermarkets at Blk 336 Smith Street and Blk 120 Canberra Crescent in the second quarter, followed by another at 11 Rivervale Crescent in the third quarter. The group is also awaiting the outcome of five Housing & Development Board tenders and is investing in automation and supplier diversification to mitigate labour and supply-chain risks.
Chief executive Lim Hock Chee said the company’s first-quarter showing underscored its operational strength despite macroeconomic uncertainties. He noted that prudent cost management and an improved sales mix helped offset rising energy and compliance costs linked to network expansion and the new distribution hub. Lim added that Sheng Siong will pursue “disciplined” growth in under-served neighbourhoods, positioning its value-for-money offerings to capture demand from increasingly price-sensitive households amid higher inflation and global geopolitical tensions.