No Signboard reports Q3 net loss of SG$1.4m
The group is exploring opportunities to grow outside of Singapore.
No Signboard Holdings slipped into the red in its fiscal third quarter, reporting a net loss of SG$1.4m compared to the year before, citing higher operating expenses incurred for its hotpot and quick service restaurants.
The SGX-listed seafood restaurant group also reported revenue falling 15% SG$5.9m in Q3 from SG$7m the year prior, citing a 10% reduction in the average spending per customer, whilst revenue from its beer segment declined significantly due to increased competition.
No Signboard said it plans to utilise its brand to look for growth outside of the Lion City, saying it would continue to explore suitable opportunities to strengthen its competitive edge in its existing business, whilst diversifying its food and beverage business.