As at 31 Dec, 2022, the group has 67 stores in Singapore, an increase from 64 in the previous year, while China stores remain unchanged at four.
Supermarket operator Sheng Siong (SGX:OV8
) announced that its earnings for FY2022 ended Dec 31, 2022, came in at $133.3 million, just a slight 0.4% from $132.8 million in FY2021. Revenue for FY2022 declined by 2.2% y-o-y to $1.34 billion from $1.37 billion a year ago.
The decline in revenue was on the back of continued normalisation that was driven by the significant easing in mobility restrictions starting Apr 1, 2022. Comparable same store sales in Singapore declined by 4.8% y-o-y, partially offset by a 2.1% contribution from five new stores – one opened in end FY2021 and four in FY2022.
