Neo Group net profit up 181% in Q4

Mr Neo Kah Kiat, founder, chairman and chief executive of food caterer Neo Group.
Mr Neo Kah Kiat, founder, chairman and chief executive of food caterer Neo Group. PHOTO: ST FILE

SINGAPORE - Neo Group posted on Thursday (May 25) a fourth-quarter net profit of S$11.7 million, up 181 per cent from the same period a year ago, on higher takings from food catering, food manufacturing, as well as the supplies and trading business.

Revenue in the three months ended March 31, 2017, was S$48 million, up 34.9 per cent from a year ago.

For the full year, Neo Group's net profit was S$3.3 million, a 46.2 per cent fall from the year before. This translated into earnings per share of 2.24 Singapore cents, down from 4.18 cents in the year before.

Although the food manufacturing and food retail businesses grew over the year, full-year profit was dragged down by a one-off loss on disposal of property net of reversal of deferred tax of S$3.34 million.

Net asset value per share was 22.73 cents as at March 31, up from 20.97 cents as at March 31, 2016.

A final cash dividend of 1 cent per share was proposed, unchanged from the year before.