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Soup Restaurant Q3 profit falls YOY

Soup Restaurant Group Ltd said its third-quarter normalized net income amounted to S$23,130, a decline of 14.0% from S$26,880 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 0.3% from 0.3% in the year-earlier period.

Total revenue rose 6.6% on an annual basis to S$10.1 million from S$9.5 million, and total operating expenses grew 6.0% from the prior-year period to S$10.2 million from S$9.7 million.

Reported net income came to S$28,460, or 0 cents per share, compared to S$28,670, or 0 cents per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to S$1.42.