Over FY17, the group registered income tax benefits of $170,000 in FY17 mainly due to tax benefits of $235,000 from the Productivity and Innovation Credit (PIC) scheme – compared to income tax benefits of $682,000 in FY16 which arose from deferred tax credits and tax benefits recognised from the PIC scheme.
SINGAPORE (May 22): Tung Lok Restaurants (2000) has declared $0.42 million in earnings for FY17, down 30.9% from the $0.61 million posted in the previous financial year mainly due to lower revenue and reduced income tax credits.
Revenue fell 1.2% to $85.1 million from $86.1 million a year ago, attributable to loss of contributions from two closed restaurant outlets as well as overall lower restaurant sales.
