SINGAPORE - Japan Foods Holding said it has achieved another record year in profit and revenue.
The group, which operates Japan-themed restaurants like Ajisen Ramen, Menya Musashi and Osaka Ohsho, said its net profit rose by 14 per cent to $7.3 million.
Revenue for the year ended March 31 was up 2.4 per cent at $62.8 million.
It achieved a 4.3 per cent increase in gross profit to $51.2 million, with overall profit margin rising to 81.6 per cent from 80.1 per cent, mainly due to better control of raw material costs and more efficient use of materials.
However, selling and distribution expenses rose by 4.4 per cent to $39.6 million, due to the group's expanded restaurant network as well as rising rental rates and higher manpower related expenses.
Earnings per share increased to 4.21 cents from 3.7 cents previously while net asset value per share climbed by 2.47 cents to 16.93 cents.
Executive Chairman and chief executive Takahashi Kenichi said: "Last year's performance was a record and we are very happy to have raised the bar even higher in FY2014.
"To celebrate this achievement, the board is proposing a final dividend as well as
a special dividend of one cent per share and 0.5 cent per share, respectively."
This will take the total payout for the year to 2.6 cents a share, which represents 53 per cent of net profit.
Going forward, the board intends to recommend dividends of at least 40 per cent of earnings annually, an increase from the current target ratio of 35 per cent.
The payout for last year was 2.5 cents a share.