BreadTalk's net profit crashed 60% to $1.6m in Q3
Blame it on higher costs and slower sales.
BreadTalk reported dismal results for the third quarter. The homegrown bakery chain's net profit fell by staggering 60% to just $1.6m in Q3, compared to $3.9m in the same period last year.
The company was impacted by higher depreciation expense from newly opened outlets during the year that are still under gestation and higher operating cost environment in its key markets of China and Singapore.
The group's net margin fell to 1% from 2.5% last year, while earnings per share (EPS) fell to 0.56 cents from $1.39 last year.
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Blame it on higher costs and slower sales.
BreadTalk reported dismal results for the third quarter. The homegrown bakery chain's net profit fell by staggering 60% to just $1.6m in Q3, compared to $3.9m in the same period last year.
The company was impacted by higher depreciation expense from newly opened outlets during the year that are still under gestation and higher operating cost environment in its key markets of China and Singapore.
The group's net margin fell to 1% from 2.5% last year, while earnings per share (EPS) fell to 0.56 cents from $1.39 last year.
Do you know more about this story? Contact us anonymously through this link.
Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.
- See more at: http://sbr.com.sg/food-beverage/mor...fit-crashed-60-16m-in-q3#sthash.gG0nJXHQ.dpuf
