Sheng Siong Group, one of Singapore’s leading supermarket chains, reported a 1.8% increase in net profit to S$44.6m for the third quarter of FY2026. This growth was primarily fuelled by a 6.2% rise in revenue, reaching S$441.5m, attributed to the opening of new stores.
The Group’s gross profit margin improved by 0.7 percentage points to 32.2%, thanks to a better sales mix that helped offset rising operating costs. Sheng Siong opened three new stores during the quarter, bringing the total number of new stores in the first nine months of FY2026 to seven, increasing its store count in Singapore to 92.
Despite the positive financial performance, administrative and selling expenses rose due to increased staffing and higher bonuses linked to the Group’s performance. Additionally, the Group faced higher depreciation costs from new leases and increased merchant fees from digital payment channels.
Looking ahead, Sheng Siong remains cautiously optimistic, expecting grocery demand to stay resilient amidst Singapore’s steady economic growth. However, external risks such as geopolitical uncertainties and supply chain disruptions could impact procurement costs. The upcoming Johor Bahru–Singapore Rapid Transit System Link may also intensify competition, although Sheng Siong believes its extensive store network will continue to attract customers.
CEO Lim Hock Chee highlighted the Group’s resilience and strategic initiatives, including a partnership with Foodpanda and a new distribution centre, to support future expansion. The Group plans to focus on areas with limited presence and enhance operational efficiency to navigate ongoing challenges.
