CRVL

Revenue rose 6.2% to $441.5m as the supermarket chain opened three new stores.

Sheng Siong posted a net profit of $44.6m in the third quarter of 2026, up 1.8% year on year (YoY) from $43.8m.

Revenue increased 6.2% to $441.5m from $415.5m, primarily due to new store openings.

Sheng Siong opened three stores in Q3, bringing the total number opened in the first nine months of the year to seven. Total stores in Singapore stand at 92, up from 84 in the same period last year.

Gross profit also increased 8.6% YoY to $142.3, whilst the gross profit margin improved by 0.7 percentage points to 32.2% as improvements in the sales mix helped offset higher operating costs.

Other income for Q3 went up 5.6% to $6.2m, mainly attributable to higher miscellaneous income from a one-off recognition of rebates received from suppliers.

For the first nine months of 2026, net profit rose 8.1% to $125.5m, whilst revenue increased 9.9% to nearly $1.3b.

Sheng Siong said the Johor Bahru–Singapore Rapid Transit System Link, which is expected to begin passenger service in February 2027, may encourage more cross-border shopping and intensify price competition, although it noted that the actual impact remains uncertain.

Wage increases under the Progressive Wage Model and higher transport costs due to higher diesel prices will continue to keep operating costs elevated, it added.

Looking ahead, the supermarket chain said it will prioritise expansion, underpinned by its new Sungei Kadut distribution centre, which will support more than 120 supermarkets.