Company Briefs: BreadTalk

BreadTalk

BreadTalk has posted a net profit of $2.7 million in the third quarter, down 29.2 per cent from the same period a year earlier on one-off expenses in the run-up to the opening of Din Tai Fung in London and other new businesses.

Some under-performing segments of the bakery business which the group is already restructuring also resulted in the profit dip, the group said on Monday.

Revenue in the three months ended Sept 30 rose 2.3 per cent to $157.7 million.

Earnings per share was 0.48 Singapore cent, down from a restated 0.68 cent in the third quarter last year.

Net profit in the nine months ended Sept 30 was $6.3 million, a fall of 62.5 per cent from the same period a year earlier, despite a 1.2 per cent rise in revenue to $455 million.

Net asset value per share was 37.8 Singapore cents as at Sept 30, up from 27.5 cents as at Dec 31 last year.


GP Industries

Battery maker GP Industries on Monday posted a 3.8 per cent fall in second-quarter net profit, on the back of higher distribution and finance costs, as well as lower other operating income.

For the three months ended Sept 30, net profit stood at $6.9 million, down from $7.1 million in the year-ago period. On a per share basis, earnings for the second quarter came in at 1.41 Singapore cents, down from 1.47 Singapore cents last year.

A cash dividend of 1.25 Singapore cents per share has been declared for the current financial period, unchanged from the preceding year.

Revenue for the quarter rose 4.5 per cent to $307.9 million, up from $294.6 million a year ago.

Notably, the strengthening of the US dollar against the Chinese yuan contributed to a net exchange gain of $6.7 million in the first half of FY2019, reversing a net exchange loss of $4.5 million in the first half of FY2018. A weakened yuan is generally favourable to the group's export-oriented businesses from China, GP Industries said.

The group noted that the United States-China trade dispute will "cast significant uncertainties" on its business outlook. Nonetheless, slightly less than 10 per cent of its businesses, comprising battery products and automotive wire harnesses, face additional tariffs imposed by the US.

A version of this article appeared in the print edition of The Straits Times on November 07, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe