Saturday 23 Nov 2024
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SINGAPORE (Nov 11): BreadTalk Group is down 5.4% at $1.135 after its third quarter net profit falls 60% on-year, dragged down by higher distribution and administrative expenses.

At 9.30am this morning, the stock was trading as low as $1.09.

BreadTalk reported on Monday that its net profit in the July-to-September quarter was $1.57 million, compared with $3.92 million in the same period of last year.

Revenue rose 4.7% on-year to $161.7 million, the bakeries and restaurants operator said.

The decline in BreadTalk's shares is steeper than the 0.4% fall in the benchmark Straits Times Index.

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