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Delfi posts stronger profits in Q3
CHOCOLATE maker Delfi reported a 19 per cent jump in net profit to US$4 million for the third quarter ended Sept 30.
Revenue rose 17 per cent year on year to US$102.69 million owing to higher own brands sales and the growing chocolate confectionery markets in Indonesia and the Philippines. Earnings per share (including exceptional items) were 0.65 US cents, versus 0.55 US cents a year ago.
John Chuang, Delfi’s chief executive officer, said: “The positive fundamentals in our priority markets of Indonesia and the Philippines continue to drive growth of chocolate confectionery. These strong fundamentals coupled with the actions we have taken over the last two years have contributed to our growth in the nine-month period of 2018, despite the currency headwinds faced.”
The counter closed unchanged at 86.7 US cents on Nov 8, when it was last traded.