[SINGAPORE] Shares of supermarket operator Sheng Siong rose on Monday (Nov 3) morning after the mainboard-listed group posted a nearly 12 per cent boost to third-quarter earnings compared with the year-ago period.
The counter rose as much as 8.2 per cent or S$0.19 to S$2.51 on Monday. This is the highest price Sheng Siong shares have reached since it was listed on the Singapore Exchange in August 2011, according to data from ShareInvestor and Yahoo Finance.
By 9.58 am, the shares had eased to S$2.49, still up by S$0.17 or 7.3 per cent, with around 4.2 million shares transacted.
On Oct 30, Sheng Siong reported that its net profit rose 11.9 per cent to S$43.7 million for its Q3 ended Sep 30, from S$39.1 million in Q3 2024.
For the three months, its revenue grew 14.4 per cent to S$415.5 million, from S$363.2 million previously.
The improvements were attributed to an increase in its number of stores, to 90 in the recent Q3, compared with 79 in the previous corresponding quarter. Comparable same-store sales also improved by 4.4 per cent on the year.
