Old Chang Kee healthy results but No dividend

Old Chang Kee released its results today.

Revenue increased S$2.4 million or 8.1% for the 6 months period from 1 July 2010 to 31 December 2010

Gross profit increased S$1.4 million or 7.7% but gross profit margin decreased slightly from 60.3% in 2H2010 to 60.1% in 2H2011.

Healthy balance sheet

But NO dividend payment based on year 2011 results!!!

In 2010, payout rate was 1.0 cents (ordinary) + 0.5 cents (special)