BreadTalk Q4 profit up nearly fourfold to S$4.43m

BREADTALK on Wednesday posted a nearly fourfold growth in fourth-quarter net profit to S$4.43 million, up from S$1.15 million a year ago.

This came on the back of a 1.1 per cent fall in revenue from S$155.1 million last year to S$153.3 million.

Earnings per share came up to 1.57 Singapore cents for the quarter ended Dec 31, 2016, versus 0.41 cent in the previous year.

For the 2016 financial year (FY 2016), BreadTalk's net profit increased by 50.4 per cent to S$11.44 million while revenue slipped 1.5 per cent to S$615 million, on lower bakery and food atrium sales.

The company has declared a final dividend of two Singapore cents per share for FY 2016, which will be paid to shareholders on June 15.

George Quek, chairman of BreadTalk Group, said: "We will continue to streamline our businesses. We will also invest in talent development. Our aim is to remain well positioned to navigate the challenging food and beverage retail landscape in FY2017.