Delfi's profit falls 44% for Q3

Formerly known as Petra Foods, Delfi saw revenue rise 1.5 per cent to US$87.9 million which saw the group snap two consecutive quarters of revenue decline.
Formerly known as Petra Foods, Delfi saw revenue rise 1.5 per cent to US$87.9 million which saw the group snap two consecutive quarters of revenue decline.PHOTO: ST FILE

SINGAPORE - Delfi posted on Tuesday (Nov 14) a 44.1 per cent drop in net profit for the third quarter to US$3.3 million from US$5.9 million.

The mainboard-listed chocolate confectionery company, formerly known as Petra Foods, saw revenue rise 1.5 per cent to US$87.9 million which saw the group snap two consecutive quarters of revenue decline with growth driven by Own Brands sales in Indonesia, its primary market.

Earnings per share for the three months to September came in at 0.54 US cent versus 0.97 US cent a year ago.

No dividend was declared for the period, unchanged from the previous period.

For the nine-month period, Delfi's net profit fell 19 per cent to US$18.2 million on the back of a 5.1 per cent drop in revenue to US$281.2 million.