Old Chang Kee has posted earnings of $6.2 million for its 1HFY2025 ended September, 42.3% higher y-o-y.
Revenue grew 3.2% y-o-y to $51.83 million, mainly due to higher retail and non-retail sales.
Gross profit margin increased by 3% to 69.5% in 1HFY2025, largely driven by improved food suppliers cost management resulting in the reduction in cost of sales; effective product pricing management; and reduction in utilities and product staff costs as a percentage of revenue.
Earnings per share stood at 5.12 cents, compared to 3.61 cents in 1HFY2024.
The company has declared an interim dividend of 1 cent per share, payable on December 20.
To navigate the period of sustained inflation, Old Chang Kee 5ML will maintain its current strategies, focusing on reducing operating costs, enhancing gross margins and optimising operations to manage manpower constraints.
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Additionally, the company is actively pursuing non-retail revenue sources, such as business-to-business sales.
Shares in Old Chang Kee closed 0.5 cents higher or 0.6% up on Nov 8 at 77 cents.
