Higher impairment charge worsens losses of Tung Lok Restaurants
Published on May 30, 2014 8:43 PM
SINGAPORE - Tung Lok Restaurants (2000) said its net loss widened to $6.8 million from $3.2 million.
Revenue for the year ended March 31 fell by 4 per cent to $77.9 million.
This was mainly due to lower revenue contributions as a result of closing four outlets during the year and loss of revenue from two other outlets that were closed last year, amounting to $7 million.
Renovations of outlets and lower food & beverage sales from existing outlets impacted the group's revenue by S$3.1 million.
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