[SINGAPORE] Tung Lok Restaurants on Friday (May 30) posted net profit of S$853,000 for its second half ended March, a 52.1 per cent decline from S$1.8 million in the year-ago period.
This translated to earnings per share of S$0.0031, a 52.3 per cent fall from S$0.0065 previously.
Revenue for H2 was down 8 per cent on the year at S$43.6 million, from S$47.4 million, amid lower contributions from its catering business and existing outlets as well as the absence of revenue from three outlets. However, this was partly offset by higher revenue from a new outlet that opened in the second half of FY2025.
For its full year, it sank into the red with a net loss of S$1.8 million, as compared to a S$2 million net profit previously. It recorded a loss per share of S$0.0065, versus S$0.0075 earnings per share previously.
The full-year losses came amid a net loss for its first half alongside food and beverage (F&B) industry woes, as the group said it faced headwinds from a subdued economic outlook and softer consumer sentiment.
Full-year revenue dropped 8.7 per cent on the year to S$82.1 million, from S$90 million, driven by lower contributions from its catering business, lower contributions from existing outlets and the loss of revenue contributions from five outlets.
No dividend was declared for the financial year.
The counter ended Friday unchanged at S$0.085, before the announcement.
Copyright SPH Media. All rights reserved.
