The higher revenue was mainly driven by an 8.0% y-o-y increase in same store sales, and supported by a longer sales period before the Chinese New Year compared to last year.
Analysts have mixed sentiments on supermarket operator Sheng Siong, following the group’s latest 1QFY2024 ended March results.
To recap, the group reported earnings of $36.3 million, 8.9% higher y-o-y. Revenue for 1QFY2024 increased by 5.5% y-o-y to $376.2 million, while the group’s net profit margin (NPM) increased 0.3 percentage points (ppts) y-o-y to 9.7%.
