Sheng Siong Group Ltd., one of Singapore’s largest supermarket chains, has announced a 7.1% increase in revenue for the first quarter of FY2025, reaching $403m. This growth was primarily fuelled by the opening of new stores since FY2024 and increased sales during the Hari Raya festive period. The group’s net profit also saw a 6.1% rise, amounting to $38.5m for the quarter ending 31 March 2025.
The company reported a gross profit increase of 10.2% to $122m, with a gross profit margin improvement of 0.9 percentage points to 30.3%. This was attributed to an enhanced sales mix that helped offset rising business costs. Sheng Siong opened two new stores in the first quarter and secured six additional locations, with results pending for four more tenders.
Chief Executive Officer Lim Hock Chee commented, “Despite a more uncertain start to 2025, the Group remained focused and delivered steady performance in the first quarter, reflecting our operational strength and solid fundamentals.”
Looking ahead, Sheng Siong is focusing on refining its sales mix and diversifying its supplier base to enhance supply chain resilience. The group is also investing in automation and AI technology to improve operational efficiency amidst rising labour costs. With Singapore’s economic outlook cautious due to external macroeconomic headwinds, Sheng Siong aims to maintain its value-for-money proposition, catering to consumers seeking quality essentials at affordable prices. The company plans to open the newly secured retail locations by Q3 FY2025, continuing its strategy of network expansion.
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