Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 26): Oldtown Bhd's net profit slipped 1.14% to RM11.25 million in the second quarter ended Sept 30, 2014, from RM11.38 million in the previous corresponding quarter.
 
Revenue shed 3.76% to RM91.7 million from RM95.3 million a year earlier.
 
The kopitiam chain operator said its manufacturing segment recorded lower profit mainly due to lower sales generated from the overseas market.
 
However, its café chain segment reported higher profit, mainly due to higher other operating income and lower advertising and promotional expenses during the quarter, said Oldtown in a filing with Bursa Malaysia today.
 
For the half-year period, net profit slid 2.6% to RM22.95 from RM23.56 million in the same period last year, but revenue rose 1.63% to RM189.6 million from RM186.5 million previously.
 
Oldtown said its manufacturing segment's results were impacted by lower export sales and higher selling and distribution expenses.

But its café chain segment's profit rose higher mainly due to higher other operating income and lower advertising and promotional expenses during the period. The segment also recorded higher revenue.
 
On prospects ahead, Oldtown plans to open more outlets in Malaysia for the current financial year ending Mar 31, 2015.
 
It also plans to open more outlets in Singapore, Indonesia and Australia, but will adopt a "conservative expansion model" in China.
 
Oldtown ended down 1 sen or 0.6% to RM1.65, translating to a market capitalisation of RM734.73 million.

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