Delfi posts 14.4% rise in Q2 profit
CHOCOLATE confectionery company Delfi posted a 14.4 per cent year-on-year rise in net profit to US$9.29 million for the second quarter ended June 30.
Revenue fell 5.8 per cent to US$100.22 million while earnings per share rose to 1.52 US cents from 1.33 US cents.
"The group's 1Q and 2Q 2017 sales performance reflected the on-going product portfolio rationalisation exercise which was implemented in 2016 and the weak retail sales environment," said Delfi. "The product rationalisation programme is an initiative we have undertaken to eliminate lower performing SKUs (stock keeping units) so that we can focus on our core brands and products and drive forward higher margin products."
The directors have declared an interim cash dividend of 1.22 US cents or 1.66 Singapore cents per share to be paid on Sept 8.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch
Parkway Life Reit Q1 DPU up 4% to S$0.0379
Japfa posts US$12.4 million Q1 profit, reversing from year-ago loss of US$43 million
PayPal lifts 2024 profit forecast as spending stays resilient, margins improve
Walmart to shut all health centers in US over lack of profitability