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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.