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Soup Holdings reports FY2023 earnings of $1.6 mil, 12.4% higher y-o-y

Felicia Tan
Felicia Tan • 1 min read
Soup Holdings reports FY2023 earnings of $1.6 mil, 12.4% higher y-o-y
Soup Holdings operates brands such as Soup Restaurant, Teahouse, Cafe O, Pot Luck and Little Teahouse. Photo: Albert Chua/The Edge Singapore
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Soup Holdings has reported earnings of $1.6 million for the FY2023 ended Dec 31, 2023, 12.4% higher y-o-y.

2HFY2023 earnings, however, fell by 26.4% y-o-y to $268,000.

Earnings per share (EPS) for the FY2023 and 2HFY2023 stood at 0.59 cents and 0.10 cents respectively.

FY2023 revenue rose by 9.3% y-o-y to $41.1 million as the group saw higher revenue from its restaurant operations. The higher revenue for the segment was mainly driven by higher sales from its existing outlets rebounding from the impact of Covid-19, as well as the opening of new outlets.

Revenue for the food processing, distribution, and procurement services segment also rose, reflecting the company’s efforts to expand its distribution networks for ready meals.

Profit before income tax was up by 32.1% y-o-y to $1.8 million.

See also: OUE expected to record a loss for 1HFY2024 mainly due to estimated losses from 25.2%-owned investee company

A final dividend of 0.2 cents per share was declared, along with a special dividend of 0.1 cent. This brings the total dividend for the year to 0.3 cents per share, down from the total dividend of 0.4 cents per share in FY2022.

As at Dec 31, 2023, cash and cash equivalents stood at $13.1 million.

Shares in Soup Holdings 5KI -

closed flat at 10 cents on Feb 29.

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