Higher sales of branded premix beverages lift Super Group's performance

SINGAPORE - Super Group has chalked up a 15 per cent rise in fourth quarter net profit to $25.9 million.

Revenue for the three months to Dec 31 was flat at $153.7 million, as higher sales of branded consumer products were negated by lower food ingredients sales.

Branded consumer sales increased due mainly to higher sales in the Southeast Asia, China and the Commonwealth of Independent States arkets.

Food ingredients sales fell due mainly to lower sales in Indonesia.

The rise in net profit was due mainly to higher other income of $9 million compared to $2.4 million in the same period last year.

Gross profit margin slipped to 35 per cent from 38 per cent in the year-ago period.

The increase in other income arose from the $6.5 million gain on disposal of the group's property at Chin Bee Crescent, Singapore.

Earnings per share grew to 2.32 cents from 2.03 cents previously while net asset value per share firmed by 2.75 cents to 44.62 cents.

For the full year, net profit slumped by 31 per cent to $68.8 million on the back of a 3 per cent drop in revenue to $539.5 million.

Following a rebranding exercise in 2013, Super Group has streamlined its brand portfolio with the creation of individual sub-brands to carry the various product lines.

For instance, the sub-brand "Super Coffee" was created to carry the group's instant regular coffees, "Nutremill" for its healthy beverages including instant cereals and soya milks, "Super Power" for vitality beverages and "Owl" for traditional instant coffees.

A final dividend of 2.1 cents a share was proposed, down from seven cents last year.

Total payout for the year was down by about two-thirds to 3.1 cents a share.