Super Group Q3 profit down 17%

SUPER Group posted a 17 per cent fall in third-quarter net profit to $18.7 million, from $22.6 million a year ago.

The drop in earnings attributable to equity-holders was despite a 2 per cent rise in revenue to $133 million and higher margin which led to a 4 per cent rise in gross profit to $49 million.

The instant food and beverage manufacturer attributed this to an "other loss" of $7,000, against an "other income" of $2.3 million a year earlier from the disposal of fixed assets. There was also a share of loss of associated and joint venture companies of $260,000, against a share of profit of $1.06 million a year ago.