FY 2011 Annual Report - Sheng Siong

in other income from S$15.9m in 2010 to S$3.3m in
2011.
Operating expenses were well controlled, but we had to
bear a one-off expense relating to our IPO amounting
to S$1.8m. Stripping off the one-off other income items
and the IPO expenses, operating margin remained
healthy at 6.2%.
Net profits came in at S$27.3m, compared with
S$42.6m previously mainly because of the lower
turnover, other income and IPO expenses.
Our balance sheet remained debt free and strong. We
generated S$28.1m of cash from operating activities,
but this was lower than the S$34.0m generated in 2010
because of the lower profi t.
Dividend
As committed at the IPO, we have declared a fi rst and
fi nal dividend of 1.77 cents a share, representing 90%
of our net profi t after tax. This dividend will be paid on
25th May 2012 if approved by the shareholders at the
Annual General Meeting to be convened on 24th April
2012.
Foundation for growth
In July 2011, we moved into our new centralised
warehouse cum distribution centre at Mandai Link with
a floor area of approximately 543,000 sq. ft. With the
constraint in space now removed, we will be pushing
ahead with our plans to increase revenue as well as
further implement margin enhancing initiatives. We
are confident that these measures will improve our
operating margin.
Reaching Out
To reach out to more consumers from all walks of life,
we have been actively looking for suitable premises,
particularly in areas where we do not have a presence.
During the year, Sheng Siong launched 3 stalls at Elias
Mall market and 3 supermarket outlets located at Teck
Whye, Woodlands Industrial Park and Thomson Imperial
Court.
We will be opening 2 outlets soon, one in Jalan Berseh
and another in Toa Payoh.
On the marketing front, we organised a
series of activities during the year to
engage our customers such as
“The Royal Golden Grain Singing
Sheng Siong Annual Report 2011
没有再出现,导致其他收入从2010年的1590
万新元明显减少至2011年的330万新元。
我们的营运开支控制得很好,但必须承担一笔同
我们的首次公开售股计划有关的开支,即180万
新元的一次性费用。如果不考虑一次性的其他收
入账项和首次公开售股开支,营运开支率持稳,
计6.2%。
2011年的净利报2730万新元,比2010年的4260
万新元来得少。这主要因为2011年的营业额和
其他收入减少,而且还须承担首次公开售股的开
支。
我们的资产与负债表依旧是零债务且稳健的。营运
活动为我们带来了2810万新元的现金,但由于盈利
退低,所以比2010年获取的3400万新元现金来得
少。
股息
正如我们在首次公开售股时所承诺的,我们宣布
以每股1.77分派发一次过年终股息,股息额为税
后净利的90%。如果在2012年4月24日召开的常
年股东大会获得股东们的批准,此股息将于2012
年5月25日分发。
增长的基础
2011年 7 月,我们迁到位于万礼连路的新中央
货仓兼分销中心,总楼面大约54万3000平方英
尺。由于不再受到地方不够用的局限,我们将能
积极推行各项计划,增加营业额及提高赚利。我
们有信心这些措施将改善我们的营运盈利率。
接触顾客
为了接触更多各类型顾客,我们积极地在全
岛各地物色适当的经营场地。2011年,我
们开设了Elias Mall 3个巴刹摊位和3 家超
市 — 它们位于德惠巷、兀兰工业园和汤申
路上段的Thomson Imperial Court。
我们将在不久的将来,增设两家新店,一家
位于惹兰勿刹地带,另一家坐落在大巴窑。
行销方面,我们在2011年主办了一系列活
动,与顾客保持联系,如“金禾歌唱比赛”
和“开斋节促销活动”等等。我们现场直播
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