Restaurant operator Japan Foods Holding posted a 20.3% fall in FY16 earnings to $3.8 million, or 2.17 cents, from FY15, impacted by a one-time impairment charge in relation to store closures.
In 4Q, earnings fell 68.1% to $0.5 million although revenue rose 5.8% to $15.7 million.
Full-year revenue was flat at $62.8 million. Despite more intense competition and a slowing economy, Japan Foods says it was able to maintain its sales at the same level because of “seasonal promotions, regular menu rejuvenation and restaurant portfolio management”.
Gross profit came in at $52.9 million in FY16, which was 1.1% higher than the $52.3 million recorded in FY15. This was due to a 0.8 percentage point increase in gross profit margin to 84.2% in FY16 from 83.4% in FY15, arising mainly from the efficient use of raw materials and cost savings from self-produced noodles and bulk purchase discounts.
In FY2016, Japan Foods launched three new brands consisting of New ManLee Bak Kut Teh, Ginza Kushi Katsu and Dutch Baby Café.
The group is proposing a final dividend of 1.25 cents per share.
The stock last traded at 39.5 cents.
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In 4Q, earnings fell 68.1% to $0.5 million although revenue rose 5.8% to $15.7 million.
Full-year revenue was flat at $62.8 million. Despite more intense competition and a slowing economy, Japan Foods says it was able to maintain its sales at the same level because of “seasonal promotions, regular menu rejuvenation and restaurant portfolio management”.
Gross profit came in at $52.9 million in FY16, which was 1.1% higher than the $52.3 million recorded in FY15. This was due to a 0.8 percentage point increase in gross profit margin to 84.2% in FY16 from 83.4% in FY15, arising mainly from the efficient use of raw materials and cost savings from self-produced noodles and bulk purchase discounts.
In FY2016, Japan Foods launched three new brands consisting of New ManLee Bak Kut Teh, Ginza Kushi Katsu and Dutch Baby Café.
The group is proposing a final dividend of 1.25 cents per share.
The stock last traded at 39.5 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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