Corporate digest

Food Empire Holdings

FOOD Empire Holdings on Wednesday reported a swing back into the black for the fourth quarter ended Dec 31, 2016. Net profit for Q4 was US$2.9 million, compared to a net loss of US$3.2 million a year ago. Revenue grew 11.4 per cent to US$70 million.

For the full year, the group recorded a higher net profit of US$14.5 million, compared to US$210,000 in FY2015, thanks to more favourable exchange rates and better performance in key markets as a result of higher selling prices.