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.
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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.
