Kimly's Q2 profit up 20%

CATALIST-LISTED coffee shop operator Kimly reported a 20 per cent year-on-year rise in net profit to S$5.45 million for the second quarter ended March 3, 2018.

The bottom line was strengthened by higher other operating income - mainly due to grants received from the Wage Credit Scheme and Special Employment Credit - as well as lower administrative expenses.

Revenue increased nearly 4 per cent to S$49.18 million on higher contributions from its outlet management and food retail divisions.

Earnings per share edged up from 0.46 Singapore cent to 0.47 cent for the quarter under review.

For the six-month period, net profit was flat at S$11.2 million, while revenue rose 5.3 per cent to S$99.33 million.

An interim dividend of 0.28 cent per share has been declared, payable May 30.