Food variety, frequent new menu launches make for yummy profit at Sakae Holdings

Sakae Holdings' first half net profit grew by 37.7 per cent to $3.2 million. -- ST FILE PHOTO: KEVIN LIM
Sakae Holdings' first half net profit grew by 37.7 per cent to $3.2 million. -- ST FILE PHOTO: KEVIN LIM

Sakae Holdings' first half net profit grew by 37.7 per cent to $3.2 million.

Revenue for the six months ended June 30 was up 8.4 per cent to $51.7 million.

Same store sales increased 4 per cent. The group saw overall improvement in financial performance due to its continuous innovation and creation of high quality products, expansion in variety of food offerings, as well as introduction of frequent new menu launches.

Earnings per share firmed to 2.25 cents from 1.61 cents previously while net asset value per share increased to 27.65 cents compared to 26.72 cents as at Dec 31.

The company declared an interim dividend of half a cent. It did not propose an interim dividend last year.

Sakae said with the more rigid labour policies being put in place in Singapore, the food & beverage (F&B) industry will continue to face dire constraints in finding manpower.

"Coupled with rising food and outlet rental costs, operating conditions in the F&B industry will continue to remain challenging," it noted.