Breadtalk Group quarterly profit jumps 62 per cent
Breadtalk Group has posted a 61.9 per cent jump in net profit to S$2.11 million (US$1.5 million) for its second quarter to the end of June.
This followed an 18.7 per cent rise in other income to $5.68 million and reduced interest and administrative expenses. Revenue slipped 1.5 per cent to $147.57 million.
Its higher earnings were achieved by consistent focus on evaluating and streamlining portfolios while maximising growth opportunities, says the Singapore company.
Net profit for the half-year more than tripled to $12.8 million despite a 3 per cent decline in revenue to $295.2 million.
“This places the group in a strong position to rise above the difficult retail environment,” says chairman George Quek.
He says the group remains on course to consolidate underperforming stores and expand its footprint in high-performing markets.
While outlet openings still proceed at a cautious pace, the group will continue to focus on improving overall profitability and quality of earnings.