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Sheng Siong Q2 profit climbs 19.2% YOY

Sheng Siong Group Ltd. said its second-quarter normalized net income came to S$10.1 million, an increase of 19.2% from S$8.5 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 5.3% from 4.9% in the year-earlier period.

Total revenue rose year over year to S$179.0 million from S$171.6 million, and total operating expenses grew year over year to S$162.9 million from S$158.2 million.

Reported net income rose 23.1% from the prior-year period to S$13.6 million, or 1 cents per share, from S$11.1 million, or 1 cents per share.

As of July 23, US$1 was equivalent to S$1.37.