Old Chang Kee Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and First Half Ended September 30, 2018; Reports Impairment Charges for the Second Quarter Ended September 30, 2018
November 13, 2018 at 04:30 am EST
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Old Chang Kee Ltd. reported unaudited consolidated earnings results for the second quarter and first half ended September 30, 2018. For the quarter, the company's revenue was SGD 23,423,000 compared to SGD 21,437,000 a year ago. Profit before tax was SGD 1,335,000 compared to SGD 958,000 a year ago. Profit before tax and share of results of joint venture was SGD 1,489,000 compared to SGD 980,000 a year ago. Profit for the period was SGD 1,020,000 compared to SGD 748,000 a year ago. Net cash flow from operating activities was SGD 2,088,000 compared to SGD 2,325,000 a year ago. Purchase of property, plant and equipment was SGD 427,000 compared to SGD 2,184,000 a year ago. Fully diluted earnings per share were 0.84 cents compared to 0.62 cents a year ago. Net asset value per ordinary share based on total number of issued shares as at the end of the financial period reported on was SGD 0.23.
For the six months, the company's revenue was SGD 45,748,000 compared to SGD 42,005,000 a year ago. Profit before tax was SGD 2,909,000 compared to SGD 1,872,000 a year ago. Profit before tax and share of results of joint venture was SGD 3,107,000 compared to SGD 1,925,000 a year ago. Profit for the period was SGD 2,271,000 compared to SGD 1,419,000 a year ago. Net cash flow from operating activities was SGD 6,151,000 compared to SGD 3,853,000 a year ago. Purchase of property, plant and equipment was SGD 1,450,000 compared to SGD 4,834,000 a year ago. Fully diluted earnings per share were 1.87 cents compared to 1.17 cents a year ago.
For the quarter, Property, plant and equipment written off was SGD 110,000 against SGD 105,000 reported a year ago.
Old Chang Kee Ltd. is Singapore-based investment holding company. The Company is engaged in the manufacture and distribution of food products, and operation of retail food outlets, and general trading. The Company's segments include Singapore, Australia and Malaysia. The Companyâs products portfolio includes traditional favourites, seafood favourites, chicken favourites and desserts. The Companyâs breakfast set menu includes dark bee hoon (braised), kway teow mee, mee tai mak, porridge, nasi lemak, glutinous rice, mee siam and chee cheong fun. The Companyâs brand portfolio includes Curry Times, Bun Times, Mushroom Cafe, O My Darling, O'My Kampong and DipânâGo. The Dip 'n' Go retail outlet offers food on the go, with a range of dips. Bun Times retail outlets offer Hainanese buns with a range of fillings, such as curry chicken and coconut. The Curry Times carry a range of local delights, such as laksa, mee siam, nasi lemak and curry chicken. The Company also provides catering services.
Old Chang Kee Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and First Half Ended September 30, 2018; Reports Impairment Charges for the Second Quarter Ended September 30, 2018