Old Chang Kee revenues climb

Known for its puff products, the Old Chang Kee chain found its revenue similarly enhanced, rising 9.1 per cent to S$85.5 million for the financial year to the end of March.

Revenue from retail outlets increased by about $7.1 million mainly because of the contribution from new outlets and more revenue from existing outlets, partially offset by the absence of revenue from closed outlets.

Revenue from other services, such as delivery and catering services, increased by about $65,000 or 5.3 per cent to $1.3 million, mainly because of more events and catering sales.

As at 31 March, the group had 90 outlets in Singapore, up one from a year earlier.

its signature puff products remained the major contributor to its revenue, accounting for about 30.1 per cent of revenue.

The group’s gross profit rose by 5.3 per cent while its gross profit margin fell from about 63.3 per cent last year to 61.1 per cent, mainly because of higher food costs.

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