Sheng Siong’s latest business update triggers target price revisions

The top-line growth in 3Q24 was driven by new store openings, which contributed 3.2% rise in revenue, and improved same-store sales, which contributed around 1.5%. As a result, EBIT increased by 15.8% YoY to S$45.7mn, with a margin of 12.6%, up 120bps YoY.
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