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.