Revenue for 3QFY2025 increased by 14.4% y-o-y to $415.5 million, driven by the net increase in total stores to 90, up from 79 in the same period last year. In addition, comparable same store sales improved by 4.4% on a y-o-y basis.
In line with the increase in revenue, the gross profit increased by 15.2% y-o-y to $131.1 million in 3QFY2025. Gross profit margin improved marginally by 0.2 percentage points to 31.5%, mainly attributed to continual improvements in the sales mix while navigating the rising business operation costs.
Other income for 3QFY2025 decreased by 6.3%, mainly due to a decrease in government grants.
Administrative expenses rose by 4.7% y-o-y to $16.0 million in 3QFY2025, while selling and distribution expenses increased by 17.3% y-o-y to $69.3 million. These are primarily due to the increased number of employees to support the opening of new stores and higher variable bonuses resulting from the group’s stronger financial performance.
Cash flow generated from operating activities increased by 50.6% y-o-y to $89.0 million, supported by higher profit reported and favourable working capital changes in this period.
As at Sept 30, cash and cash equivalents stood at $393.7 million.
Shares in Sheng Siong closed 2 cents lower or 0.87% down at $2.28 on Oct 30.
