It recognised revenue from the sale of two property investments.
BreadTalk delivered excellent results in Q3 as profits went up 22.2% YoY from $3.26m to $3.98m.
According to its financial statement, revenue fell 2% YoY from $157.34m to $154.26m, whilst revenue for the nine months of 2017 fell 2.6% YoY from $461.7m to $449.5m.
About $9.3m was recognised in Q1 from the sale of BreadTalk’s investment in TripleOne Somerset. About $8.8m was also recognised in Q1 last year from the sale of 112 Katong Mall.
The bakery division’s revenue declined 2.7% YoY to $223.1m, due to lower revenue from direct operated stores in Shanghai and Beijing.
The number of direct operated stores remained relatively unchanged at 255 whilst franchise outlets increased to 604.
