AhlulBayt News Agency: Japan Foods Holdings recorded a net profit of S$2.3 million for the first six months of FY2023, reversing its net loss of S$1.6 million recorded in the equivalent period a year ago due to a significant increase in revenue.
The Catalist-listed restaurant chain operator on Wednesday (Nov 9) announced a 79 per cent year-on-year growth in revenue to S$38 million from S$21.2 million. Its topline was driven largely by relaxed Covid-19 dining measures and a net revenue growth of S$6.4 million in its new segment of halal eateries.
Its four flagship brands also saw net revenue increases for the period, with Ajisen Ramen recording the largest at S$3.3 million. Menya Musashi, Konjiki Hototogisu, and Osaka Ohsho posted net increases of S$0.9 million, S$1.6 million, and S$1.1 million respectively.
Restaurants operating under other brands booked a S$3.8 million net increase in revenue.
While its gross profit grew 80.9 per cent year on year to S$32.2 million from S$17.8 million, Japan Foods : 5OI 0%’ other income decreased by 88.1 per cent to S$0.5 million from S$4.1 million in H1 FY2022. This was due to lower government support grants and rental concessions from landlords.
Despite markedly higher selling and distribution expenses of S$27 million compared to S$21.3 million the year before, the group’s gross profit margin grew 0.9 percentage point to 84.7 per cent due to the absence of discounts granted for takeaway orders the previous year.
Earnings per share for the half-year stood at 1.34 cents, and an interim dividend of 1 Singapore cent was declared.
/129
The Catalist-listed restaurant chain operator on Wednesday (Nov 9) announced a 79 per cent year-on-year growth in revenue to S$38 million from S$21.2 million. Its topline was driven largely by relaxed Covid-19 dining measures and a net revenue growth of S$6.4 million in its new segment of halal eateries.
Its four flagship brands also saw net revenue increases for the period, with Ajisen Ramen recording the largest at S$3.3 million. Menya Musashi, Konjiki Hototogisu, and Osaka Ohsho posted net increases of S$0.9 million, S$1.6 million, and S$1.1 million respectively.
Restaurants operating under other brands booked a S$3.8 million net increase in revenue.
While its gross profit grew 80.9 per cent year on year to S$32.2 million from S$17.8 million, Japan Foods : 5OI 0%’ other income decreased by 88.1 per cent to S$0.5 million from S$4.1 million in H1 FY2022. This was due to lower government support grants and rental concessions from landlords.
Despite markedly higher selling and distribution expenses of S$27 million compared to S$21.3 million the year before, the group’s gross profit margin grew 0.9 percentage point to 84.7 per cent due to the absence of discounts granted for takeaway orders the previous year.
Earnings per share for the half-year stood at 1.34 cents, and an interim dividend of 1 Singapore cent was declared.
Shares of Japan Foods closed up 1.2 per cent or S$0.005 at S$0.42 on Tuesday.
/129