food junction holdings ltd (FOOD) Snapshot

Food Junction Holdings Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported loss attributable to owners of the parent was SGD 540,000 on revenue of SGD 16,422,000 against profit attributable to owners of the parent of SGD 64,000 on revenue of SGD 14,290,000 a year ago. Loss before tax was SGD 255,000 against profit before tax of SGD 113,000 a year ago. Loss after tax was SGD 511,000 against profit after tax of SGD 87,000 a year ago. Net cash flows used in operating activities was SGD 226,000 and purchase of fixed assets was SGD 972,000 against net cash flows used in operating activities of SGD 1,885,000 and purchase of fixed assets of SGD 2,684,000 a year ago. Fully diluted basis loss per share was 0.44 cents against 0.05 cents diluted earnings per share a year ago. The increase in turnover was mainly due to the new streams of revenue contribution from new restaurants that were in operation after first quarter of 2012.

Food Junction Holdings Ltd. provided earnings guidance for the first quarter ended March 31, 2013. For the quarter, the company expected to report a loss as some new restaurants require further fine tuning and marketing initiatives to roll out.

Food Junction Holdings Ltd. reported audited consolidated earnings results for the year ended December 31, 2012. For the period, the company reported loss attributable to owners of the company was SGD 6,917,000 or 5.67 cents per basic and fully diluted share on revenue of SGD 58,800,000 against profit attributable to owners of the company of SGD 828,000 or 0.65 cents per basic and fully diluted share on revenue of SGD 56,986,000 a year ago. Loss before tax was SGD 6,650,000 against profit before tax of SGD 1,986,000 a year ago. Net cash flows generated from operating activities was SGD 3,813,000 and purchase of fixed assets was SGD 10,433,000 against net cash flows generated from operating activities of SGD 6,606,000 and purchase of fixed assets of SGD 4,135,000 a year ago. Negative return on assets was 15.1% against return on assets of 1.6% a year ago. Negative return on shareholders equity was 30.1% against return on shareholders equity of 2.7% a year ago.