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Soup Restaurant Q2 profit falls YOY

Soup Restaurant Group Ltd said its normalized net income for the second quarter amounted to S$13,750, a fall of 63.3% from S$37,500 in the year-earlier period.

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

The normalized profit margin declined to negative 0.4% from 0.4% in the year-earlier period.

Total revenue grew year over year to S$9.8 million from S$9.5 million, and total operating expenses climbed on an annual basis to S$9.9 million from S$9.5 million.

Reported net income came to S$28,560, or 0 cents per share, compared to S$28,690, or 0 cents per share, in the prior-year period.

As of Aug. 6, US$1 was equivalent to S$1.39.