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Koufu net profit falls 34.5% to S$4.6 million in Q3

FOOD court operator Koufu has posted a net profit of S$4.6 million in the third quarter, down 34.5 per cent from the same period a year earlier. 

Revenue in the three months to Sept 30 rose 3.6 per cent to S$57.6 million.

An interim dividend of one Singapore cent per share will be paid on Dec 12. Koufu was listed on the Singapore Exchange main board in July.

Earnings per share was 0.86 Singapore cents, down from 1.47 Singapore cents in the third quarter last year. 

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Net asset value per share was 16.15 Singapore cents as at Sept 30, up from 8.9 Singapore cents as at Dec 31 last year.

Koufu said that it has secured three new food courts and coffee shops leases in Singapore, two of which are targeted toopen in the fourth quarter and the other in the first quarter next year. The group also secured one new food court in Macau targeted to open in the first quarter of 2019. 

Koufu is also expanding its R&B Tea and Super Tea footprint, and has secured six new locations for R&B Tea in Singapore which are targeted to open in the fourth quarter, bringing the total number of outlets for the tea beverage brands to 11 by the end of 2018.  

Koufu shares rose 1.61 per cent to S$0.63 before results were announced after market close on Friday.