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Neo Group Q4 profit rises 181% to S$2.7m

CATERING outfit Neo Group reported a 181 per cent increase in quarterly net profit to S$2.7 million from a year ago owing to an improved showing in the food manufacturing and food retail segments.

Revenue for the fourth quarter ended March 2017 rose 35 per cent to S$48 million led by higher revenue across all four business segments - food and catering; food retail; food manufacturing; and the supplies and trading businesses.

Net profit for the full year fell 46 per cent to S$3.3 million on the back of a 29 per cent rise in revenue to S$162 million.

Earnings per share for the fiscal year 2017 came in at 2.24 Singapore cents versus 4.18 Singapore cents a year ago.

Neo Group declared a final cash dividend of one Singapore cent per share, the same as the previous year.

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