Oldtown FY2012 gross profit rises RM59.95m

Oldtown Bhd's pre-tax profit for the financial year ended December 31, 2012 rises to RM59.95 million from RM51.95 million
in 2011.

Revenue also increased to RM333.12 million from RM285.42 million.

For the fourth quarter, the group's pre-tax profit was lower at RM13.01 million on the back of a higher revenue of RM87.92 million.

In a filing to Bursa Malaysia, the group said the higher revenue was due to improved contribution from its café chain operation, attributable to increased number of outlets.

Apart from that, the better performance was attributed to Oldtown's higher sales volume and increase in the selling price of its beverage products.

On prospects, it said riding on its strong brand name and integrated business strategies, the outlook for both café chain operation and manufacturing of beverages segments were good.-- Bernama