RE&S Holdings net profit dips by 0.7% YoY in FY 2024

Earnings per share also decreased to $0.021.

RE&S Holdings Limited’s net profit dipped by 0.7% YoY to $7.6m in the FY 2024 period that ended on 30 June. 

Earnings per share decreased to $0.021 in FY 2024, from $0.022 in FY 2023.

Revenue increased by 3% to $179.3m during the year on the back of increased revenue contribution from quick-service restaurants (QSR), convenience, and others segment.

Revenue from QSR increased by 13.9% to $95.7m in FY 2024, mainly due to the opening of 6 new outlets in H1 FY2024 and another six new outlets in H2 FY2024.

Meanwhile, revenue from the full-service restaurants (FSR) segment decreased by 7.2% to $83.5m in FY 2024, mainly due to the closure of one outlet in H1 FY2024 for conversion into QSR concepts and the interim closure of two outlets for revamping in FY 2024.

Due to decreased expenses in delivery platform commission and marketing expenses, the group’s operating expenses decreased by 12.8% YoY. 

Finance costs remained relatively constant and represented 1.3% and 1.5% of total revenue for H2 FY2024 and H2 FY2023, respectively.