Old Chang Kee profit rises 21% to $6m
Signature puff products still major revenue generator for the snack chain
OLD Chang Kee yesterday reported a 20.8 per cent rise in net profit to $6.02 million for the fiscal year ended March 31.
The local snack chain said that turnover increased 5 per cent year on year to $68.89 million, while gross profit margin increased to 62.2 per cent from 61.4 per cent, on improved efficiency of production staff and a revision of selling prices in December 2012.
Revenue from the retail division rose 5.9 per cent to $67.8 million, attributable to contributions from new outlets and higher receipts from existing outlets, offset by the closure of outlets.
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