Superbowl Holdings net profit attributable to shareholders dips 61.3% to $1.1m

Staff costs, operating expenses climbing.

Despite revenue rising 8% to $4.6m in 3Q2013 on the back of growths in its bowling and property rental business segments, Superbowl Holdings reported a sharp decline in net profit attributable to shareholders.

Staff costs rose 18.9% to $1.0 million in 3Q2013 from $0.83 million in 3Q2012 and 14.3% to $2.94 million in 9M2013 from $2.57 million in 9M2012, which Superbowl Holdings said was mainly due to additional headcount arising from the Group’s new Bowling Centre at SAFRA Toa Payoh and annual salary adjustments.

The new Bowling Centre at SAFRA Toa Payoh has also commenced operations, which led other operating expenses to increase 9.6% to $2.08 million in 3Q2013 and 10.7% to $6.20 million in 9M2013.

Finance costs increased to $19,000 in 3Q2013 from $17,000 in 3Q2012, and to $85,000 in 9M2013 from $43,000 in 9M2012 due to an increase in bank borrowings.

Still, the Group managed to keep its profit before tax in the black. Profit before tax of $1.31 million for 3Q2013, compared to profit before tax of $3.46 million in 3Q2012. Profit before tax for 9M2013 stood at $3.81 million, compared to $10.8 million recorded in 9M2012.