Tung Lok Restaurants (2000) says it achieved a net profit attributable to shareholders of $725,000 for the financial year ended 31 March 2010 (FY2010), reversing a net loss of $2.6 million for FY2009.

Tung Lok, which has 27 outlets in Singapore and three in China, says this was the result of improved consumer sentiment, better performance of associates and tightened cost controls. Lifted by stronger sales in the second half of FY2010 on recovery from the global economic crisis, revenue rose to $81.3 million in FY 2010 from $73.4 million in FY 2009.

The group’s performance was also lifted by improvements in operational and cost efficiency such as increased automation at its central kitchen.

Share of loss in joint ventures narrowed to $300,000 in FY 2010, compared to $1.6 million in FY 2009 after one of its loss-making China outlets in FY 2009 was closed.

Share of profit in associates was $200,000 in FY2010 compared to a loss of $900,000 in FY 2009 due to better performance from China outlets.

Tung Lok recently opened two outlets in the newly launched Resorts World Sentosa Integrated Resort – a fine-dining Chinese restaurant, Chinois and a Chinese Fast Food concept, Ruyi – out of a total five new outlets opened in FY2010.