Super Group Q3 profit dives 47%

Singapore

INSTANT food & beverage producer Super Group's net profit for the three months ended Sept 30 plunged 47 per cent to S$9.98 million.

The fall in profit attributable to shareholders - from the previous corresponding period's S$18.71 million - came as revenue dipped 3 per cent to S$129.5 million and earnings margin fell. "In the latest third quarter, the macro-economic environment continued to be challenging, marked by higher raw material costs, particularly that of palm kernel oil, as well as stiffer competition. Gross profit margin for 3Q14 stood at 32 per cent, down five percentage points, dragged by higher raw material costs and the higher composition of food ingredients sales which carry a lower gross profit margin," said Super Group.