Super Group's Q4 profit dips on poorer gross margin, write-offs

Singapore

BEVERAGE mix maker Super Group, the subject of an offer to take it private, on Tuesday posted a dip in fourth-quarter earnings. It cited lower gross profit margin and higher expenses resulting from write-offs.

Net profit for the three months ended Dec 31, 2016, stood at S$15.5 million, one per cent down from S$15.7 million the year before. Earnings per share dropped to 1.39 Singapore cents from 1.41 cents in Q4 FY2015.

Despite Q4 revenue rising 9 per cent to S$154.3 million, profit from operating activities decreased 19 per cent to S$17.2 million due to lower gross profit margin and higher general and administrative expenses. The lower gross profit margin was due to higher raw material costs and higher composition of food ingredients sales. General and administrative expenses increased …