Kimly's FY20 net profit rises 25.8%

COFFEE shop operator Kimly has posted a 25.8 per cent rise in net profit to S$25.2 million for the year ended Sept 30, 2020.

Revenue was up 1.2 per cent to S$210.8 million, mainly on the back of an increase in food delivery sales. This was a result of the group's stronger online food-delivery presence and increased marketing efforts during the financial year.

However, revenue contribution from the outlet management division took a hit of S$7.8 million, or 7 per cent, as dine-in restrictions during the pandemic affected the sale of beverages and tobacco products.

Gross profit climbed 38.9 per cent to S$56.5 million as cost of sales fell 8 per cent due to government grants for wages support and rental rebates passed down by landlords.

Earnings per share was 2.18 Singapore cents, compared with 1.74 Singapore cents a year ago.

The group has declared a final dividend of 0.84 Singapore cents per share, unchanged from the previous corresponding period. Together with the interim dividend of 0.28 Singapore cents per share, the total dividend amounts to 1.12 cents per share, representing a 52.6 per cent payout of the group's net profit.

The counter closed at 28.5 Singapore cents on Thursday, up 0.5 Singapore cent or 1.79 per cent.