Yeo Hiap Seng's Q3FY16 profit declines
DRINK manufacturer Yeo Hiap Seng's net profit for the three months ended Sept 30 dropped from S$9.42 million to S$5.1 million, weighed down by its food & beverage (F&B) division.
Revenue fell from S$109.48 million to S$94.68 million while earnings per share for the three-month period fell to 0.88 Singapore cent, from 1.64 cents a year ago.
The company said: "In the next 12 months, the group expects the F&B margins to come under pressure mainly due to soft economic conditions and weak outlook for our key markets; competitive selling prices; and uncertainty in raw material prices. Further, the fluctuations in the regional currencies will have an impact on our results."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama