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CHAIRMAN’S STATEMENT AND OPERATIONS REVIEW
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Annual Report 2014 •
Dear Shareholders,
It is my pleasure to present to you theAnnual Report and the Group’s
results for the fnancial year ended 31 March 2014.
Revenue
The Group’s revenue increased from approximately S$65.6
million for the fnancial year ended 31 March 2013 (“FY2013”) to
approximately S$68.9 million for the fnancial year ended 31 March
2014 (“FY2014”), an increase of approximately S$3.3 million or 5.0%.
Revenue from the retail division increased from approximately
S$64.0 million for FY2013 to S$67.8 million for FY2014, an increase
of approximately S$3.8 million or 5.9%. The revenue growth was
attributable to contributions from new outlets as well as higher
receipts from the existing outlets, offset by closure of outlets.
Revenue from other services such as delivery and catering services
decreased from approximately S$1.6 million for FY2013 to S$1.1
million for FY2014, a decrease of approximately S$522,000 or 31.9%.
The Group initiated a change in our delivery services in October
2012 to accept only bulk orders.This change had contributed to the
reduction in revenue from other services.
As at 31 March 2014, the Group operated a total of 80 outlets in
Singapore as compared to 76 outlets in 31 March 2013.