Delfi H1 earnings up 57.6% on stronger sales performance; declares interim dividend of US$0.0158

எஸ். வெங்கடேஷ்வரன்
Published Wed, Aug 10, 2022 · 09:31 PM

CHOCOLATE confectionery company Delfi : P34 0% posted a net profit of US$19.4 million in H1 2022, up 57.6 per cent from the corresponding period last year.

Delfi said in a bourse filing on Wednesday (Aug 10) that the strong H1 2022 bottom-line performance was on the back of a 17 per cent year-on-year increase in revenue to US$246.3 million, surpassing the US$226.9 million it achieved in H1 2019 - signalling a “recovery and return to pre-Covid-19 levels”.

Revenue growth was driven by the Indonesian segment which rose by 16.1 per cent to US$167.2 million; and also from regional markets improving by 18.9 per cent to US$79.1 million.

“Delfi attributed its strong performance to the resilience of its own brands and its complementary agency brands, which posted year-on-year revenue growth of 20.2 per cent and 12.2 per cent respectively, as well as its ongoing efforts to strengthen its established distribution network,” the mainboard-listed company added.

The group has declared an interim cash dividend of US$0.0158 to be paid out to shareholders on Sep 7.

“This will be the highest interim dividend paid since 2014 and is consistent with the practice of returning profits to our shareholders through dividend, reflecting our longstanding practice of delivering value to them,” the group noted.

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John Chuang, Delfi’s chief executive officer, said since last year the group’s markets have gradually come out of tight Covid-19 restrictions, and this has resulted in higher social and economic activities and improved consumer sentiment across the region.

“We continue to capitalise on this uptrend in consumption patterns that enabled us to deliver 2 consecutive quarters of strong revenue growth during H1 2022,” he added.

Barring any unforeseen circumstances, the group expects its performance for the year ending Dec 31, 2022, to be better than the performance in 2021. 

The counter closed down S$0.01 or 1.3 per cent at S$0.740 on Wednesday before the announcement.

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