Breadtalk Group Ltd. said its first-quarter normalized net income amounted to S$1.8 million, a fall of 15.4% from S$2.2 million 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 1.2% from 1.5% in the year-earlier period.
Total revenue climbed 8.6% on an annual basis to S$152.4 million from S$140.4 million, and total operating expenses climbed 8.4% year over year to S$151.5 million from S$139.8 million.
Reported net income grew 11.1% on an annual basis to S$2.0 million, or 1 cents per share, from S$1.8 million, or 1 cents per share.
As of May 13, US$1 was equivalent to S$1.33.
