BreadTalk Group Limited Recommends Tax-Exempt Interim Dividend for the Half Year Ended June 30, 2017, Payable on August 31, 2017; Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Earnings Guidance for the Full Year of 2017; Reports Impairment for the Second Quarter Ended June 30, 2017
The company announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenue of SGD 147,569,000 compared to SGD 149,767,000 a year ago. Profit before tax was SGD 6,813,000 compared to SGD 5,148,000 a year ago. Profit attributable to shareholders of the company was SGD 2,113,000 or 0.75 cent per diluted share compared to SGD 1,305,000 or 0.46 cent per diluted share a year ago. Net cash flow from operating activities was SGD 15,529,000 compared to SGD 17,015,000 a year ago. Additions to intangible assets were SGD 22,000 compared to SGD 33,000 a year ago. Purchase of property, plant and equipment was SGD 3,748,000 compared to SGD 6,184,000 a year ago. EBITDA was SGD 18.3 million against SGD 18.4 million a year ago. Capital expenditure was SGD 4 million against SGD 6 million a year ago. Free cash flow was SGD 12 million compared to SGD 1 million a year ago.
For the six months, the company reported revenue of SGD 295,195,000 compared to SGD 304,330,000 a year ago. Revenue declined 3.2% year/year to SGD 145.9 million during first half of 2017 at the Bakery Division. The decline was primarily due to weaker direct operated stores performance at Shanghai and Beijing. Profit before tax was SGD 21,816,000 compared to SGD 10,845,000 a year ago. Profit attributable to shareholders of the company was SGD 12,803,000 or 0.75 cent per diluted share compared to SGD 3,750,000 or 0.46 cent per diluted share a year ago. Net cash flow from operating activities was SGD 31,850,000 compared to SGD 28,261,000 a year ago. Additions to intangible assets were SGD 23,000 compared to SGD 51,000 a year ago. Purchase of property, plant and equipment was SGD 15,937,000 compared to SGD 17,740,000 a year ago. EBITDA was SGD 44.6 million against SGD 38.4 million a year ago.
The Group will continue to focus on improving overall profitability and quality of earnings for full year of 2017.
For the quarter, the company reported Property, plant and equipment written off of SGD 1,291,000 against SGD 3,198,000 reported a year ago.