Mainboard-listed food and beverage operator BreadTalk Group's second-quarter earnings were more than halved on expansion-related costs.
Net profit fell 57.9 per cent to $1.02 million for the three months to June 30, even as revenue rose 9.8 per cent to $163.3 million. Despite higher takings across the key bakery, food atrium, restaurant and "4orth" food concept businesses, the bottom line was hit by a jump in distribution and selling expenses.
Earnings per share for the quarter stood at 0.18 cent, down from 0.43 cent, while net asset value declined to 25.9 cents a share, against 28.9 cents as of Dec 31 last year. Net profit for the half-year came in 35.3 per cent lower at $2.34 million, while revenue was up 7.9 per cent to $321 million.
Regional Mercedes-Benz distributor Jardine Cycle & Carriage's underlying earnings survived a tough second quarter at key subsidiary Astra, largely on an improvement in corporate costs.
Underlying net profit rose 6.2 per cent year on year to US$206 million (S$284 million) for the three months to June 30, as revenue slipped 2.3 per cent to US$4.44 billion.
Net profit surged to US$115.1 million, more than triple the US$37.7 million in the period before, on lower fair-value losses on agriculture produce and other investments.
Earnings per share was 29 US cents for the quarter, up from 10 US cents, while net asset value was US$5.94 a share, from US$5.97 as of Dec 31 last year. The board has recommended an unchanged interim dividend of 18 US cents a share.