Breadtalk opens third outlet in Yangon, targets eight more
SINGAPORE-OWNED bakery chain Breadtalk Myanmar today opened its third Yangon outlet at the Myanmar Plaza shopping mall.
The outlet is its third in Yangon after opening in Junction City and in Crystal Tower, which is next to Junction Square, in April and November 2017, respectively.
Within this year and next, Breadtalk plans to open eight more outlets, including in other cities, said Daw Su Myat Noe, Marketing Manager of Breadtalk.
She added that Breadtalk has served approximately 560,000 custom- ers in Yangon since the opening if its first outlet last year. The company’s aim is to capitalise on strong consumer demand for its cakes and pastries, which are priced for the mass market.
Breadtalk Myanmar is operated by Myanmar Bakery Co, a member of the Shwe Taung Group. Myanmar Bakery holds the master franchise to develop and operate Breadtalk in Myanmar.
Breaktalk Group is listed on the Singapore Exchange. It currently runs 337 outlets in Southeast Asia, compared to 119 outlets in Singapore and 341 outlets in China.
For the first three months of this year, it announced revenues totaling S$148.5 million, unchanged from the same period the year before. Earnings, however, dipped substantially for the period, to just S$1.2 million from over S$10.8 million last year, due to closures of several outlets in China.
Shares of Breadtalk closed yesterday at S$1.04 each, which is up by more than 20pc since the start of the year.