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Petra Foods Q4 net profit down 22.3%

Petra Foods' fourth quarter net profit fell 22.3 per cent to US$12.4 million for both continuing and discontinued operations.

Revenue for the chocolate manufacturer was largely flat at US$131.2 million, as a depreciation in regional currencies, especially the Indonesian rupiah, against the US dollar weighed on the group.

In constant exchange rates, revenue would have risen by 5 per cent, Petra Foods said.

For the full year, net profit more than doubled to US$48.8 million, from US$20.5 million in 2013, though revenue was 0.9 per cent lower at US$504 million.

The group has declared a final dividend of 1.92 US cents, and a special dividend of 1.64 US cents for each share. This brings the group's total dividend for the 2014 financial year to 5.77 US cents.

The counter last traded at S$4.09 on Tuesday.

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