Yeo Hiap Seng posts 7% rise in Q4 profit

FOOD and beverage company Yeo Hiap Seng on Monday posted a seven per cent increase in fourth quarter net profit from S$13.27 million a year ago to S$14.25 million.

This was due mainly to S$3.44 million in higher fair value gains on investment properties, partially offset by lower net profit from the F&B division of S$1.21 million.

Revenue for the three months ended Dec 31, 2015 fell by about S$4 million year-on-year from S$99.67 million to S$95.61 million.

Earnings per share rose from 2.31 Singapore cents in the previous year to 2.47 Singapore cents.

For the full year, Yeo Hiap Seng's net profit rose 27 per cent to S$36.83 million on the back of a one per cent rise in revenue to S$443.52 million.