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Neo Group's net profit climbs 15.7 per cent to S$7.4m

FOOD and beverage caterer Neo Group's net profit climbed 15.7 per cent to S$7.4 million for the fourteen months ended March 31, 2015.

The increase came on the back of revenue jumping 47.8 per cent to S$77.4 million, largely due to growth in its food catering business.

Earnings per share stood at 5.14 cents, while net asset value was 16.79 cents per ordinary share.

The group has proposed a one-tier tax-exempt final cash dividend of 1.05 cents per share, bringing the total dividends declared for the fourteen months to 2.56 cents per share.

Earlier this month, the group announced its first major acquisition since listing in 2012, which it slated for completion by mid-June.

It will acquire a 55 per cent stake in Thong Siek Holdings (TSH) - the parent company of 'DoDo fishballs' - for S$7.35 million.

The group also recently opened a new centralised kitchen at Enterprise Road, which was fully operational in November last year.

Its counter closed at 91 cents on Thursday, down two cents or 2.15 per cent.