One of the top retailers in Singapore, Sundance Group Limited (SGX: OV8), has achieved excellent results in the retail business.。In fiscal 2023, the company reported higher profits and increased dividends.。

The latest results also show that the company is holding large cash reserves, zero debt, more generous gross margins, and a positive outlook.。

In 2023, the Group's retail revenue increased by 2.1%, up to 13.S $700 million; during the year, the group opened six new stores, attracting more customers; net profit edged up by 0.3% up to 1.S $3.4 billion; and realization of cash reserves 3.S $24.4 billion, zero debt。

In today's high interest rate environment, this performance provides a good cushion.。

Each year, the Group has achieved sustained growth in retail, resulting in higher gross margins。Through volume sourcing and efficient management of the supply chain, the Division achieved a gross margin of 30 per cent in 2023, with more than 1,600 products and 23 private labels.。

It is not difficult to see that the expansion plan of the group is strong, and the number of stores in the group has more than doubled to 69 in 2023, covering more communities.。Under its plan, the company will open at least three new stores each year.。

While inflation and economic uncertainty usually mean a tight budget for people to live on, the group instead expects it may attract more customers as it believes that cooking at home and discounts will attract customers' purchasing power。In addition, as government allowances and coupons are issued, more people will turn to value-oriented shopping。

In view of such solid performance, the Group raised its dividend to 0 per share..S $032, up from 0 per share last year.NZ 0307。