Profit before tax fell 45.4% y-o-y to $3.79 million for the period. The group’s gross profit margin decreased by 1.7% to 64.3% in 1H2022, mainly due to absence of economies of scale savings from the large-scale catering of packed meals to foreign workers dormitories.
Old Chang Kee reported revenue of $38.52 million for 1HFY2022 ended Sept 30, up $341,000 or 0.9% y-o-y.
This was mainly due to higher delivery and retail sales, partially offset by a decrease from catering sales, says the group on Nov 11.
