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Neo Group's net profit climbs 15.7 per cent to S$7.4m

FOOD and beverage caterer Neo Group's net profit climbed 15.7 per cent to S$7.4 million for the fourteen months ended March 31, 2015.

The increase came on the back of revenue jumping 47.8 per cent to S$77.4 million, largely due to growth in its food catering business.

Earnings per share stood at 5.14 cents, while net asset value was 16.79 cents per ordinary share.

The group has proposed a one-tier tax-exempt final cash dividend of 1.05 cents per share, bringing the total dividends declared for the fourteen months to 2.56 cents per share.

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Earlier this month, the group announced its first major acquisition since listing in 2012, which it slated for completion by mid-June.

It will acquire a 55 per cent stake in Thong Siek Holdings (TSH) - the parent company of 'DoDo fishballs' - for S$7.35 million.

The group also recently opened a new centralised kitchen at Enterprise Road, which was fully operational in November last year.

Its counter closed at 91 cents on Thursday, down two cents or 2.15 per cent.

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