FOOD Junction Holdings has reported a loss after tax of $6.9 million for the full year ended Dec 31, 2012, compared with a net profit of $0.9 million the previous year.

This was attributed to a $5 million impairment loss on intangible assets arising from the acquisition of Malones Holdings, operator of Malone's American Cafe, in October 2008 that has performed below expectations, and pre-operating costs of new F& B restaurants.

Loss per share was 5.67 cents against earnings per share of 0.65 cent the previous year. Net asset value at the group level was 18.82 cents per ordinary share as at Dec 31, 2012, compared with 24.78 cents the previous year.

Revenue for the year increased 3.3 per cent to $57.5 million, mainly due to a new stream of revenue from new restaurants that were in operation in 2012.