Sheng Siong Q3 profit up 1.9% at $44.6 million

Sheng Siong attributed the increase in revenue to a rise in total stores in Singapore.

ST PHOTO: KUA CHEE SIONG

Published Oct 30, 2026, 10:42 AM

Updated Oct 30, 2026, 12:14 PM

Sheng Siong’s Q3 profit rose 1.9% to $44.6 million, as revenue climbed 6.2% to $441.5 million, helped by more Singapore stores and better same-store sales.

The group warned that strong competition, promotions, and the 2027 RTS Link may raise cross-border shopping and price pressure on groceries and household products.

Costs are also rising after wage increases under the Progressive Wage Model, but Sheng Siong plans to keep expanding in areas where it has limited presence.

SINGAPORE – Supermarket operator Sheng Siong posted third-quarter profit of $44.6 million for the period ended Sept 30, up 1.9% from $43.7 million the previous year.

On Oct 29, the mainboard-listed company reported $441.5 million in revenue, up 6.2% from $415.5 million in the year-ago period.

The group attributed the increase in revenue to a rise in total stores in Singapore, as well as improvements in comparable same-store sales.

Sheng Siong currently has 92 stores across the country, up from 84 stores in the same period the year before. Total retail area stood at 799,775 sq ft, compared with 723,648 sq ft previously.

The total number of stores in China remains unchanged at six.

Earnings per share rose 1.7% to 2.96 cents, from 2.91 cents in the year-ago period.

Despite the improvement in results, the management of Sheng Siong acknowledged that the grocery retail landscape remains competitive, and sustained promotions may pressure revenue and margins.

Moreover, the upcoming Johor Bahru-Singapore Rapid Transit System Link , which is expected to open in February 2027, may increase cross-border shopping and price competition for selected packaged groceries and household products.

To address the risks associated with the new link, the group will adapt its strategies as developments unfold.

Another risk identified by the group was increased cost pressures from wage increases under the Progressive Wage Model , and the recent National Wage Council guidelines for 2026-2027.

Sheng Siong noted that it also raised retail workers’ salaries in September 2025 to meet the Progressive Wage Model requirements in the retail sector.

Third-quarter staff costs stood at $71.6 million, up from $65.5 million the previous year.

“Looking ahead, we will continue to prioritise expansion in areas where the group has limited presence, to extend our reach to customers,” said Lim Hock Chee, group chief executive of Sheng Siong.

Sheng Siong shares closed on Oct 29 at $2.80, down 1.4%, or four cents, before the results were released. THE BUSINESS TIMES

昇菘超市将收入增长归因于新加坡门店总数的增加。

《海峡时报》摄影：郭志雄

发布于 2026 年 10 月 30 日上午 10:42

更新于2026年10月30日下午12:14

昇菘超市第三季度利润增长1.9%至4460万美元，营收增长6.2%至4.415亿美元，这得益于新加坡门店数量的增加和同店销售额的提高。

该组织警告称，激烈的竞争、促销活动以及2027年开通的RTS Link可能会增加跨境购物，并给食品杂货和家居用品带来价格压力。

在渐进式工资模式下，工资上涨后成本也在上升，但昇菘计划继续在业务有限的地区扩张。

新加坡——超市运营商昇菘公布截至9月30日的第三季度利润为4460万美元，比上年同期的4370万美元增长1.9%。

10月29日，这家主板上市公司公布营收为4.415亿美元，较去年同期的4.155亿美元增长6.2%。

该集团将收入增长归功于新加坡门店总数的增加以及同店销售额的改善。

昇菘超市目前在全国拥有92家门店，高于去年同期的84家。零售总面积为799,775平方英尺，而去年同期为723,648平方英尺。

中国门店总数保持不变，仍为六家。

每股收益增长1.7%，达到2.96美分，而去年同期为2.91美分。

尽管业绩有所改善，但昇菘超市的管理层承认，食品零售市场竞争依然激烈，持续的促销活动可能会对收入和利润率造成压力。

此外，预计将于 2027 年 2 月开通的柔佛新山-新加坡快速交通系统连接线可能会增加跨境购物，并加剧部分包装食品杂货和家居用品的价格竞争。

为了应对新连接带来的风险，该集团将随着事态发展调整其策略。

该组织指出的另一个风险是，根据渐进式工资模式和最近全国工资委员会发布的 2026-2027 年指导方针，工资上涨带来的成本压力增加。

昇菘超市指出，为了满足零售业渐进式工资模式的要求，该公司也于 2025 年 9 月提高了零售员工的工资。

第三季度员工成本为 7160 万美元，高于上年同期的 6550 万美元。

“展望未来，我们将继续优先考虑在集团业务范围有限的地区进行扩张，以扩大我们服务客户的范围，”昇菘集团首席执行官林福志表示。

在业绩公布前，昇菘银行股价于10月29日收于2.80美元，下跌1.4%，即4美分。《商业时报》