Sheng Siong posts 1.4% increase in FY18 earnings to $70.8 mil; declares final dividend of 1.75 cents

SINGAPORE (Feb 25): Sheng Siong has reported FY18 earnings of $70.8 million, 1.4% higher compared to $69.8 million in FY17, which came on the back of a 7.4% y-o-y increase in FY18 revenue to $890.9 million.

For 4Q18 earnings have increased by 4.2% to $17.5 million, compared to $16.8 million in 4Q17.

Revenue for the quarter grew by 10.7% to $221.8 million from $200.3 million a year ago, mainly attributable to higher contribution from new stores and the group’s business in China. This was partially offset by lower contribution from comparable same store sales and the closure of stores at The Verge and Woodlands Block 6A.

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