Yeo Hiap Seng Q1 results boosted by gain on disposal

YEO Hiap Seng's net profit for the three months ended March 31, 2017, swelled to S$138.98 million from about S$5.4 million a year ago, boosted by a S$138.35 million gain on disposal of its investment in Super Group.

Revenue fell from S$110.99 million to S$81.87 million mainly due to disruption of sales in Cambodia following a dispute with its distributor, delayed shipments for certain markets and general market weakness.

Earnings per share for the quarter rose to 24.06 Singapore cents, up from 0.94 cent a year ago.

The group warned that food & beverage margins are likely to come under pressure in the next 12 months due to soft economic conditions and a weak outlook for its key markets, competitive selling prices, as well as fluctuations in the price of raw materials and regional currencies.