BreadTalk declares higher special dividend as Q1 earnings soar
LOWER expenses boosted BreadTalk Group's earnings for its first quarter, as the food and beverage company's net profit rocketed 337.2 per cent to S$10.7 million from the previous year.
Revenue for the three months ended March 31, 2017, shrank 4.5 per cent to S$147.6 million from the preceding year, due partly to lower China franchise revenue contribution at its bakery division and lower outlet count at its Food Atrium segment, it said in a Singapore Exchange filing on Wednesday evening.
Earnings per share rocketed to 3.8 Singapore cents from 0.87 Singapore cents in the preceding year. Net asset value per share edged up to 58.1 Singapore cents as at March 31, from 54 Singapore cents as at three months earlier.
It declared a special dividend per share of two Singapore cents, which it said was about 60 per cent of its divestment gain from selling TripleOne Somerset. That was higher compared with a special dividend of 1.35 Singapore cents in the previous year.
BreadTalk shares ended S$0.01 or 0.7 per cent higher at S$1.395 on Wednesday before its results were announced.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
US: Wall St opens higher as some chip stocks bounce back after selloff
Blackstone reports 1% rise in Q1 earnings
India’s Infosys misses fourth-quarter revenue estimates
UBS shuts some China private funds, will lay off staff: sources
China’s top lenders face 1.6 trillion yuan loss-absorbing capital shortfall by 2025, Fitch estimates