Singapore’s BreadTalk Group expects loss for FY 2019

Due to weakness in bakery and food concept divisions, coupled with the turmoil in Hong Kong, BreadTalk Group is likely to report a loss for the financial year ended December 31, 2019.

Singapore’s BreadTalk Group expects loss for FY 2019 | BEAMSTART News

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At the nine-month mark, the company had already reported earnings of just $1.7 million, down 71.9% y-o-y versus nearly $6.1 million from the year-earlier nine-month period.

The BreadTalk Group, established in 2000, has rapidly expanded to become a distinctive household brand owner that has founded its mark on the world stage with its bakery, restaurant and food atrium footprints.

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The company generated 8.7% increase in revenue to $494.6 million for the nine-month ended September 30, 2019.

In the past 12 months, BreadTalk’s share price has dropped from 88 cents to close at 69 cents on January 16.

“The Group is still in the process of finalising its unaudited financial results for FY2019. Further details of the Group’s financial results will be disclosed when the Group finalises and announces its unaudited financial results for FY2019 on or around 24 February 2020,” the company states.

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