SINGAPORE (May 8): Japanese restaurant operator RE&S Group saw its 3Q18 earnings halve to $0.9 million from $1.9 million a year ago on higher expenses and after taking into account one-off IPO expenses of $1.1 million.
Revenue for 3Q grew 2% to $35.3 million on the growth of contributions from the quick-service restaurants, convenience and others segment.
Raw materials and other consumables used came in at $9.7 million, 5.3% higher than $9.2 million a year ago. As a percentage of revenue, it remained constant at 27.6% when compared to that of 3Q17.
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