Sheng Siong posts 7.4% higher 2Q earnings of $18.4 mil; declares interim dividend of 1.75 cents per share

South East Asia .
Sheng Siong posts 7.4% higher 2Q earnings of $18.4 mil; declares interim dividend of 1.75 cents per share

Supermarket chain Sheng Siong Group has reported earnings of $18.4 million for the 2Q19 ended June, up 7.4% from $17.2 million in 2Q18, on the back of higher revenue. This brings total earnings for 1H19 to $37.8 million, some 6.6% higher than $35.4 million in 1H18. Earnings per share (EPS) climbed 7.9% to 1.23 cents for 2Q19, compared to 1.14 cents in 2Q18. 2Q19 revenue grew 11.8% to $238.2 million, from $213.0 million a year ago.

This was mainly attributable to contribution from the opening of 13 new stores, which continues to be Sheng Siong’s main driver of growth in revenue. Revenue from the group’s first store in Kunming China also grew at a healthy pace. https://www.theedgesingapore.com/capital/results/mapletree-industrial-trust-posts-33-rise-1q-dpu-310-cents

 

 

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