SINGAPORE (Nov 1): Sheng Siong recently announced that its 3Q18 earnings have dropped by 9.4% to $17.8 million, compared to $19.7 million in 3Q17.

This was mainly due to the absence of $2.2 million worth of tax refund a year ago. Excluding this, the group’s net profit would have increased by 1.5% in 3Q18.

Revenue during the quarter came in at $227.9 million, 8.9% higher than $210.9 million last year.

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