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Soup Restaurant swings to profit in Q4

Soup Restaurant Group Ltd said its normalized net income for the fourth quarter amounted to S$285,490, compared with a loss of S$77,820 in the year-earlier period.

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

The normalized profit margin rose to 7.7% from negative 0.8% in the year-earlier period.

Total revenue came to S$10.3 million, compared with S$10.3 million in the prior-year period, and total operating expenses declined 7.2% from the prior-year period to S$9.3 million from S$10.0 million.

Reported net income grew on an annual basis to S$568,120, or 0 cents per share, from S$193,070, or 0 cents per share.

For the year, the company's normalized net income totaled S$616,740, a gain of 28.1% from S$481,560 in the prior year.

Full-year total revenue rose year over year to S$41.0 million from S$39.7 million, and total operating expenses grew on an annual basis to S$40.1 million from S$39.0 million.

The company said reported net income grew 6.1% year over year to S$967,500, or 0 cents per share, in the full year, from S$911,570, or 0 cents per share.

As of April 13, US$1 was equivalent to S$1.35.