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BreadTalk's net profit crashed 60% to $1.6m in Q3
Blame it on higher costs and slower sales.
BreadTalk reported dismal results for the third quarter. The homegrown bakery chain's net profit fell by staggering 60% to just $1.6m in Q3, compared to $3.9m in the same period last year.
The company was impacted by higher depreciation expense from newly opened outlets during the year that are still under gestation and higher operating cost environment in its key markets of China and Singapore.
The group's net margin fell to 1% from 2.5% last year, while earnings per share (EPS) fell to 0.56 cents from $1.39 last year.
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