BreadTalk

BreadTalk: 3Q10 results. Rev at $81.3m, +26.8% yoy, +14.1% qoq. Net profit at $2.8m, +4.8% yoy, +20.5% qoq. Higher costs due to misappropriation of funds in Msia unit resulting in a provision of S$622k, start-up costs of Thailand’s Din Tai Fung and lapsing of Jobs Credit Scheme. Mgmt expects raw material costs to rise.