For the quarter, BreadTalk’s bakery division suffered a loss of $1.9 million; its “4orth” division — which houses new and experimental F&B concepts — bled $3.2 million in the same period.
SINGAPORE (Aug 19): In this latest earnings season, most of the local F&B stocks suffered huge losses. While revenue for most have increased, operating costs rose by a bigger quantum, causing a drag in earnings.
BreadTalk Group saw its 2QFY2019 revenue increase 9.8% y-o-y to $163.3 million, from $148.8 million last year. The company’s business divisions generated higher revenue. However, earnings in the same period dropped more than half to $1 million from $2.4 million in the previous year. The disappointing bottom line was attributed to an increase in the group’s distribution and selling expenses, which was 40.4% higher at $85.6 million, from $60.9 million last year.
