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Jumbo Q3 net profit falls 34.5%

Jumbo Group's net profit fell 34.5 per cent from S$3.37 million a year ago to S$2.21 million for the third quarter ended June 30, the food and beverage company reported on Monday.

Profit fell due to a rise in other operating expenses, mainly from an increase in the number of outlets, the expansion of Jumbo's corporate office in China and marketing expenses for the group's 30th anniversary celebrations.

Revenue rose 2.9 per cent to S$35.8 million on higher contribution from operations in China. Earnings per share fell to 0.3 Singapore cent for the quarter from 0.5 cent a year ago.

Jumbo shares finished up one Singapore cent, or 1.9 per cent, at S$0.53 on Monday, before results were announced.

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