Apex-Pal International, which operates the global chain of Sakae Sushi restaurants, today reported a net profit before tax of $3.3 million for the fiscal full year ending on 31 December 2009.

With 62 local and 100 international stores, Apex-Pal says turnover fell 5% to $88.8 million at the back of the group’s consolidation and restructuring efforts of non-profitable business units.

But the company says it continues to see strong demand and high traffic at its local and Malaysian restaurants resulting in a steady sales record for both countries’ operation.

For the full year, the group generated positive operating cash flow of $3.7 million and ended the year with a total cash position of $6.7 million.

Gross profit margin remained relatively constant. Based on the full-year results, earnings per share was 2.30 cents, while net tangible assets per share was 14.26 cents.