Link: https://links.sgx.com/1.0.0/corporate-announcements/H8G072F934TDAFA8/613e3af49656ebecfa61c81b66c8132eb6950d31ed77b649d5973b3081454f03

Summary:

• Revenue declined 6.3% year-on-year to S$19.4 million for the six months ended 30 June 2025, mainly due to closure of three outlets and three cloud kitchens, and the expiry of ready-meal supply contracts in the food processing segment.

• Profit before tax rose 14.5% to S$237,000; net profit increased 34.1% to S$224,000 as cost-cutting offset lower sales.

• Earnings per share rose to 0.08 cents (1H 2024: 0.06 cents).

• Gross margin supported by tighter cost controls and alternative sourcing, with purchases and consumables cost down 13.2%. Employee benefits, depreciation, and other expenses also declined.

• Operating cash flow remained positive at S$2.83 million; net cash outflow for the half was S$1.93 million after lease and equipment payments.

• No interim dividend declared; dividend policy remains full-year payout subject to Board review.

• Net asset value per share at 2.95 cents.

• Group pursuing a strategy of reviewing and exiting underperforming outlets/revenue lines, while opening one new outlet and seeking new food processing contracts.

• F&B industry remains highly competitive in Singapore; company refocusing on brand refresh, digital solutions, and new contracts/markets to navigate current challenges and drive future growth.