LEGAL | Staff Reporter, Singapore

Sakae Sushi parent company posts Q2 net loss of $545,000

This was attributed to streamlining of operations that resulted in a fall in revenue.

The firm that runs the Sakae Sushi restaurant chain reported a net loss of SG$545,000 for Q2, from earnings of SG$99,000 in the same period last year.

In a filing on the Singapore Exchange, the company said this was due to a streamlining of operations that resulted in a fall in revenue, while the cost of sales and labour expenses dropped accordingly.

Revenue came in at SG$11.2 million for the three months to December 31, down 39.6%.

Gross profit was SG$7 million, down from SG$9.5 million the year before. Gross profit margins were 62.5%, having increased by 11.4 percentage points.

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