Sheng Siong Group, one of Singapore’s leading supermarket chains, has announced a 12.4% increase in revenue for the first quarter of the financial year 2026, reaching S$452.8m. This growth is attributed to the opening of 12 new stores in FY2025 and robust festive sales during the Lunar New Year and Hari Raya Puasa.
The group’s net profit also rose by 12.6% to S$43.4m, supported by a 15% increase in gross profit to S$140.3m. The gross profit margin improved by 0.7 percentage points to 31%, reflecting a better sales mix that helped offset rising business costs.
Sheng Siong secured three new store locations, with two expected to open in the second quarter and one in the third quarter of FY2026. The company is also awaiting the results of five tenders from the Housing Development Board (HDB).
CEO Lim Hock Chee stated, “The Group remained resilient amid macroeconomic uncertainties and delivered steady performance in the first quarter, reflecting our operational strength and solid fundamentals.”
Despite challenges such as geopolitical tensions and rising energy costs, Sheng Siong is focused on refining its sales mix, diversifying its supplier base, and investing in automation to enhance operational efficiency. The company aims to continue its expansion in areas with limited presence, ensuring its value-for-money proposition meets evolving consumer needs.
