The American Club 2021/2022 Annual Report

PAGE 48 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

Cost of Goods Sold

Total Cost of Goods Sold (S$'000) and COGS as % of Total Income

10,000

30.0%

25.3%

9,000

9,218

23.9%

25.0%

8,000

21.9%

8,155

20.0%

7,000

7,433

20.1%

20.0%

18.4% 18.4% 17.8%

6,419

6,000

5,592

5,000

15.0%

5,163

4,751

4,695

4,000

10.0%

3,000

2,000

5.0%

1,000

0

0.0%

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

Total Cost of Goods Sold (S$'000)

COGS as % of Total Income

Supply chain and logistic disruptions as a result of COVID-19 had driven up raw material cost, for example recent tender for perishable food saw an average increase of 10%-40% in cost, impacting food cost by approximately 0.8%. The wine promotions from The Gourmet Pantry contributed to approximately 1.5% increase in the cost of sale. Overall Cost of Goods Sold therefore increased from 20% in FY2021 to 21.9% in FY2022.