BreadTalk's Q2 profit down 13.6% on higher costs
Published on Aug 11, 2014 10:44 PM
SINGAPORE - Restaurant and bakery group BreadTalk's second quarter net profit declined 13.6 per cent to $2.6 million despite a rise in sales.
Revenue for the three months to June 30 rose 10.5 per cent to $139.9 million. Earnings were dented by increases in the distribution and administrative expenses.
Distribution expenses went up 6.6 per cent to $55.5 million while administrative costs gained 32.3 per cent to $18.5 million
First half net dropped 4.9 per cent to $4.4 million as the closure of non-performing outlets led to asset write-offs amounting to $2.2 million.
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