Sheng Siong Group Ltd (SGX:OV8) (Sheng Siong) net profit increased 54.4% year-on-year to S$31.8 million for the quarter ended 30 September, announced the Group on 29 October after trading had closed for the day. This was driven mainly by strong growth in revenue resulting in higher gross profit, higher other income but was offset by increase in operating expense. The elevated demand due to COVID-19 drove revenue for the quarter up by 28.9% to S$327.3 million, with 19.1% contributed by comparable same store sales and 9.5% driven by new stores in Singapore, and remaining 0.3% contributed by stores in China. Circuit Breaker and lockdown measures in 1H 2020 drove demand up as consumers loaded up on pantries and movement controls were in place. In 3Q2020, demand remained strong even after Circuit Breaker was lifted as work-from-home continued to be encouraged and consumers remained cautious. Gross margin remained flat at 27.0% in 3Q2020 as sales promotions in the industry returned gradually to pre-COVID-19 levels....