Sheng Siong reports earnings of $81 mil for 1HFY2026, up 11.9% y-o-y

Teo Zheng Long

Jul 29

Gross profit was up by 15.6% y-o-y to $272.4 million while gross profit margin improved to 31.8% from 30.8% a year ago.Sheng Siong Group (Sheng Siong) OV8 has reported earnings of $81 million for ...

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The higher figures were mainly due to improvements in the sales mix while addressing rising business operation costs.\nSelling and distribution expenses increased by 15.7% y-o-y to $149.6 million, and administrative expenses were up by 14.0% y-o-y to $33.4 million. \nThese were due to higher staff costs from higher headcount to support more stores, higher variable bonuses driven by better financial performance, and the raising of retail workers' salaries back in Sept 2025 to meet the Progressive Wage Model (PWM) requirements.\nAs at June 30, Sheng Siong's cash and cash equivalents balance stood at $402.3 million while net asset value (NAV) per share stood at 40.7 cents, compared to 39.11 cents as at Dec 31, 2025.\nSheng Siong has declared an interim dividend of 3.75 cents for 1HFY2026, up from 3.2 cents back in 1HFY2025. \n\"In the near term, we continue to expand, with three new stores expected to open in the third quarter. In the long term, we should see greater optimisation of operating systems and costs from our Sungei Kadut distribution centre, positioning us well to strengthen our presence and deliver sustainable value to our shareholders for years to come,\" says Group CEO Lim Hock Chee.\nShares of Sheng Siong closed 1 cent higher, or 0.31% up at $3.21 on July 29. The counter is up 52.3% in the past 12 months.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}