However, due to an increase in staff costs and a 27.3% rise in operating lease expenses to $8.3 million, linked to the group’s expansions of its operations, gross profit for the quarter slipped 6.7% to $8.8 million from $9.5 million a year ago.
SINGAPORE (Aug 7): Kimly, Singapore’s largest traditional coffee shop operator, posted earnings of $5.2 million for the 3Q17 ended June, down 20% from its $6.5 million in earnings for 3Q16 due to higher expenses.
Revenue for the quarter grew 8.5% to $47.9 million, boosted mainly by higher sales generated from cooked food and beverages, an increase in rental income, as well as income from provision of cleaning and utilities services.
