Petra Foods' Q4 profit falls 22.3% to US$12.4m

Singapore

PETRA Foods' earnings fell more than a fifth in the fourth quarter as revenue remained largely unchanged. Its net profit attributable to shareholders for the three months ended Dec 31 stood at US$12.4 million, down 22.3 per cent from US$15.9 million a year earlier, which included US$234,000 from its divested cocoa processing operations.

Excluding the discontinued operations, net profit dropped 21.1 per cent.

Revenue for the confectionery manufacturer was largely flat at US$131.2 million, as a depreciation in regional currencies, especially the Indonesian rupiah, against the US dollar weighed on the group. The rupiah had fallen an average of 15 per cent in 2014, Petra Foods said. In c…