Petra Foods' Q3 profit down 29.1%

Singapore

PETRA Foods posted a 29.1 per cent fall in net profit to US$10.5 million for the third quarter ended Sept 30, 2014.

This lower bottom line came on the back of revenue that was 6.5 per cent lower at US$118.2 million, down from US$126.3 million for the same period a year ago.

The group, whose core market is Indonesia, said that sales were lower partially because the run-up to the Muslim Lebaran festivities fell in the second quarter this year, compared to in the thir…