Kimly posts net profit of S$4.5m in Q2 as revenue rises

NEWLY-LISTED Kimly Limited's net profit in its second quarter dropped 25.3 per cent from S$6.1 million a year ago - a comparable figure which assumes the pre-initial public offering restructuring exercise had been completed on Oct 1, 2015.

For the three months ended March 31, 2017, the profit attributable to owners of the company was S$4.5 million, based on a Singapore Exchange (SGX) filing on Tuesday evening. It is reporting its maiden set of results following its recent listing on SGX's Catalist Board in March 2017.

This brings the half-yearly net profit of the traditional coffee shop operator to S$11.2 million, down 11.1 per cent from S$12.6 million.

Revenue in its second quarter grew 12.4 per cent to S$47.4 million from the previous year. Half year revenue stood at S$94.3 million, a leap of 14.4 per cent compared to the six-month period the year before.

Revenue rose mainly on contribution from the sales of cooked food, beverages and tobacco products, and increase in rental income and income from provision of cleaning and utilities services.

The company has declared a tax exempt (one-tier) interim cash dividend of 0.28 Singapore cent per share.

Kimly shares ended unchanged at S$0.46 on Tuesday.