Petra Foods posts US$12.37m Q2 profit

PETRA Foods, which completed the divestment of its cocoa ingredients division in June last year, yesterday posted a second-quarter net profit of US$12.37 million from continuing and discontinued operations, against US$4.75 million for the year-ago period.

Stripping off the results of discontinued operations, profit attributable to equity-holders was US$13.2 million, down 10.6 per cent. This came as greater selling and distribution costs chipped away a higher revenue.

Its topline from continuing operations - essentially its branded consumer division - grew 5.3 per cent to US$131.8 million.