Earnings at Old Chang Kee down 1.5% at $5.4 million

Full-year earnings at curry puff maker Old Chang Kee fell 1.5 per cent to $5.4 million. -- ST PHOTO: ALPHONSUS CHERN
Full-year earnings at curry puff maker Old Chang Kee fell 1.5 per cent to $5.4 million. -- ST PHOTO: ALPHONSUS CHERN

SINGAPORE - Full-year earnings at curry puff maker Old Chang Kee fell 1.5 per cent to $5.4 million.

Revenue rose 4 per cent to $71.6 million for the period ended March 31.

But cost of sales rose 3.5 per cent to $27.0 million. Total operating expenses also increased by about 7.4 per cent or $2.7 million to amount to about 55.2 per cent of revenue, up from 53.4 per cent of revenue a year back.

As at March 31 this year, the group operated a total of 83 outlets in Singapore, up from 80 outlets at March 31 last year.

The group's puff products remained the major contributor to its revenue, accounting for about 31.8 per cent of revenue for the year.

Earnings per share for the year was 4.35 cents, down from 4.97 cents a year earlier. Net asset value was 27 cents at March 31, up from 26 cents a year earlier.

The company has proposed a final dividend of 1.5 cents a share, similar to a year ago.