Yeo Hiap Seng Q1 net profit falls to S$1.4m on absence of one-off gain from disposal of investment in Super Group

YEO Hiap Seng's (YHS) net profit for the first quarter plunged from S$140.2 million to S$1.4 million due to the absence of a S$138.35 million gain from its disposal of its investment in Super Group in the year-ago period.

As such, earnings per share dropped to 0.23 Singapore cent from 24.27 Singapore cents in the year-ago period.

However, for the three months ended March 31, revenue increased 12.1 per cent to S$91.8 million from the preceding year.

"The increase in revenue was mainly due to higher Chinese New Year sales during this quarter," YHS said.

Net asset value per share edged up to 113.57 Singapore cents as at March 31, from 113.31 Singapore cents three months ago.

YHS shares finished S$0.03 or 2.7 per cent up at S$1.15 on Friday before the announcement.