02-06-2025
Tung Lok second-half profit falls 52.1% amid F&B industry woes
For the full year, Tung Lok sank into the red with a net loss of $1.8 million. PHOTO: LIANHE ZAOBAO FILE
SINGAPORE - Tung Lok Restaurants on May 30 posted net profit of $853,000 for its second half ended March, a 52.1 per cent decline from $1.8 million in the year-ago period.
This translated to earnings per share of 0.31 cent, a 52.3 per cent fall from 0.65 cent previously.
Revenue for the second half was down 8 per cent on the year at $43.6 million, from $47.4 million, amid lower contributions from its catering business and existing outlets as well as the absence of revenue from three outlets.
However, this was partly offset by higher revenue from a new outlet that opened in the second half of financial year 2025.
For the full year, Tung Lok sank into the red with a net loss of $1.8 million, compared with a $2 million net profit previously.
It recorded a loss per share of 0.65 cent, versus 0.75 cent earnings per share previously.
The full-year losses came amid a net loss for its first half alongside food and beverage (F&B) industry woes, as the group said it faced headwinds from a subdued economic outlook and softer consumer sentiment.
Full-year revenue dropped 8.7 per cent on the year to $82.1 million, from $90 million, driven by lower contributions from its catering business, lower contributions from existing outlets and the loss of revenue contributions from five outlets.
No dividend was declared for the financial year.
Tung Lok's shares were unchanged at 8.5 cents as at 10.28am on June 2, after the announcement. THE BUSINESS TIMES
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