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® SHENG SIONG GROUP LTD First Quarter 2021 Business Update Dear Shareholders , I trust you are all safe and well . It is my pleasure to present our 1Q2021 business update . The Group has again demonstrated its resilience and achieved a 6.5 % growth in net profit on the back of an increase of 2.7 % in revenue . Let us be reminded that 1Q2020 was the start of the pandemic which drove up demand for daily necessities . Restrictions which impacted elevated demand eased gradually throughout FY2020 , and I am proud that we delivered against a backdrop of tapering elevated demand . UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME GROUP 1st Quarter ended 31 - Mar 2021 S $ ' 000 2020 S $ ' 000 + / ( - ) % 2.7 % Revenue 337,547 328,735 Cost of sales ( 244,416 ) ( 239,961 ) 1.9 % Gross profit 93,131 88,774 4.9 % Other income 4,009 3,753 6.8 % Distribution expenses ( 1,853 ) ( 1,978 ) ( 6.3 % ) Administrative expenses ( 55,944 ) ( 54,114 ) 3.4 % Other expenses ( 1,451 ) ( 1,259 ) 15.3 % Results from operating activities 37,892 35,176 7.7 % Finance income 239 277 ( 13.7 % ) Finance expenses ( 485 ) ( 521 ) ( 6.9 % ) Profit before tax 37,646 34,932 7.8 % Tax expense ( 6,740 ) ( 5,923 ) 13.8 % Profit for the period 30,906 29,009 6.5 % 1