Kimly’s sales up, profits slide
Coffeeshop company Kimly’s sales in the second quarter rose, but net profit dropped 25.3 per cent from S$6.1 million (US$4.3 million) for the same period a year ago.
This is considered a comparable figure by the company, with its pre-IPO restructuring exercise being completed on October 1, 2015.
Revenue in its second quarter grew 12.4 per cent to S$47.4 million from the previous year. Half-year revenue stood at S$94.3 million, a leap of 14.4 per cent.
Kimly says revenue rose mainly through the sales of cooked food, beverages and tobacco products, an increase in rental income and income from providing cleaning and utility services.
For the three months to the end of March, the profit attributable to owners of the company was S$4.5 million, Kimly says in reporting its maiden set of results following its listing in March.
This takes its half-yearly net profit to S$11.2 million, down 11.1 per cent.