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ABR posts 4.6% drop in Q4 earnings
OUTLET closures due to renovation works have led restaurant operator ABR Holdings to post a 4.6 per cent slip in Q4 net profit to S$2.3 million, just as revenue fell 7.1 per cent to S$25.4 million.
The group ended its FY2015 with a 3.4 per cent drop in net profit to S$7.6 million. For the 12 months ended December, revenue came to S$100.4 million, slightly lower than FY2014's S$102.5 million.
ABR, which owns and operates the Swensen's ice cream restaurant chain in Singapore, said it was also affected by the weaker Malaysian ringgit against the Singapore dollar, as translation effect trimmed the revenue contribution from its Malaysian operations.
ABR said it expects the operating environment in the food and beverage industry to remain challenging "with keen competition, tight labour market, increased operating costs and uncertain economic outlook".
To counter these challenges, it said it will remain focused on driving revenue, managing costs and improving operational efficiency.
"In addition, the group continues to explore opportunities to expand its portfolio of brands in the food and beverage sector," it said, while adding that it will pursue property investment opportunities in the region.
ABR has declared a final cash dividend of 1.5 cents per share.