BreadTalk 2Q results: 10.5% increase in profit

SGX-listed BreadTalk Group has announced its 2Q results: 10.5% increase in profit and special dividend of 0.5 cents per share.

Total revenue for 2Q FY2018 was $148.8 million, an increase of 0.8% from $147.7 million in 2Q FY2017.

This is achieved through the Group’s continual focus on enhancing operational efficiency and growing its portfolio of brands through strategic partnerships. This enabled the Group to perform despite the challenging retail landscape.

Mr Henry Chu, BreadTalk Group CEO said, “It has been an eventful journey over the past six quarters since my re-joining the Group in October 2016 and subsequent appointment as Group CEO in July 2017. My team has been working tirelessly alongside me to sow the seeds for the next lap of growth as well as to make hard decisions when they were due to reorganise various aspects of our business so as to position it for greater strength. I am pleased to report yet another quarter of core earnings improvement powered by growth in our existing brands and contributions coming from new brands which have surpassed expectations.

Group 2Q FY2018 net profit increased 10.5% from $2.2 million to $2.4 million. The Group announced that it will open Din Tai Fung London before end 2018.

The Board is recommending a tax exempt (one-tier) special dividend of 0.5 cent per share for FY2018. The interim dividend will be paid to shareholders on 21 August 2018.