Old Chang Kee profit slips; Tung Lok back in the black
Currypuff seller cites higher staff, rental costs; restaurant operator warns of challenging operating environment
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TWO Singapore food stalwarts, Old Chang Kee and Tung Lok Restaurants, reported their earnings for FY2015 on Thursday with differing results. While the former's profit for the year ended March 31 fell 12.2 per cent to S$5.29 million, the latter moved out of the red, with a net profit attributable to equity-holders of S$574,000, against a loss of S$6.8 million previously.
On the currypuff side, Old Chang Kee's earnings slipped for FY2015 as selling and distribution (S&D) expenses widened.
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