BreadTalk's net profit up 35.1% to $4m
Its food atrium business reported a strong turnaround.
Despite the 1.5% slump in revenue to $148m, Breadtalk managed to report a solid net profit for the quarter ending in June, up 35.1% to $4m.
For the said quarter, its profit attributable to shareholders went up by 61% top $2.1m.
According to RHB analyst Juliana Cai, this was mainly driven by a strong turnaround in the food atrium business following the consolidation of operations last year.
For the quarter, its restaurant segment was the only division with revenue growth, up 4% to $37.9m.
"This was mainly contributed by the conversion of two RamenPlay Outlets to Sō at Nex Serangoon and BreadTalk HQ," the analyst said.
On the other hand, bakery revenues declined 3.4% YoY to $72.3m due to the termination of underperforming franchisees.
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