Super Group sees Q2 profits drop 30 per cent

Super Group saw a 30 per cent drop in net profit to S$11.1 million in the second quarter.
Super Group saw a 30 per cent drop in net profit to S$11.1 million in the second quarter.PHOTO: LIANHE ZAOBAO

SINGAPORE - Net profit at instant food and beverage manufacturer Super Group fell to S$10.5 million in the second quarter, a drop of 30 per cent compared with last year's S$15 million profit.

This came on the back of a 5 per cent decline in revenue, from S$131.7 million last year to S$125.5 million this year, the company said in a release on Tuesday.

Super Group attributed the revenue slide to slow sales in the Philippines and Eastern Europe. Sales performance fell in both the company's branded consumer and food ingredients segments.

Earnings per share dipped from 1.35 cents last year to 0.94 cents, while net asset value per share stood at 44.9 cents.

An interim dividend of one cent per ordinary share will be paid on September 4.

leowhma@sph.com.sg