Soup Restaurant’s 3Q earnings treble; declares special dividend

SINGAPORE (Nov 10): Soup Restaurant, famous for its samsui ginger chicken, is paying a special dividend of 0.25 cent per share on Dec 15 after 3Q earnings more than trebled to $67,000 from $18,000 a year ago on lower expenses and higher sales.

Revenue fell 11% to $9 million due to the loss of revenue from the closure of three outlets in the second and third quarters. Nevertheless, revenue from the existing and additional four new outlets increased by $1 million. Revenue for food processing, distribution and procurement services also increased by 19.4% or $0.2 million.

Purchases and other consumables fell 10.2% to $2.1 million, employee benefits fell by 19.9% to $3.1 million, depreciation and amortisation expenses fell by 12.3% to $378,000 while other expenses fell 2.5% to $3.5 million.

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