Lower food ingredients sales dampen Super Group's full-year net profit

SINGAPORE - Fourth quarter net profit at instant food and beverage manufacturer Super Group plummeted 39 per cent to $15.7 million, due mainly to a one-off gain of $6.5 million from the disposal of a property in the last corresponding period.

Revenue for the quarter ended Dec 31 decreased 8 per cent to $141.1 million due mainly to lower food ingredients sales in Indonesia and China, partially offset by higher sales in the Philippines and Taiwan.

Net profit for the full year came in 31 per cent lower at $47.2 million, while revenue fell 6 per cent to $509.2 million.

Earnings per share was 1.41 cents for the fourth quarter and 4.24 cents for the full year. Net asset value per share was 46.80 cents as at Dec 31, up from 44.62 cents the preceding year.

The company has proposed a final dividend of 1.2 cents per share, bringing the total dividend for the year to 2.2 cents.