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Yeo Hiap Seng's Q3FY16 profit declines

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DRINK manufacturer Yeo Hiap Seng's net profit for the three months ended Sept 30 dropped from S$9.42 million to S$5.1 million, weighed down by its food & beverage (F&B) division.

DRINK manufacturer Yeo Hiap Seng's net profit for the three months ended Sept 30 dropped from S$9.42 million to S$5.1 million, weighed down by its food & beverage (F&B) division.

Revenue fell from S$109.48 million to S$94.68 million while earnings per share for the three-month period fell to 0.88 Singapore cent, from 1.64 cents a year ago.

The company said: "In the next 12 months, the group expects the F&B margins to come under pressure mainly due to soft economic conditions and weak outlook for our key markets; competitive selling prices; and uncertainty in raw material prices. Further, the fluctuations in the regional currencies will have an impact on our results."

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