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Food Empire's earnings hit by crisis in key markets

Published on Aug 12, 2014 8:49 PM

SINGAPORE - Food Empire has been hard hit by the political crisis in Ukraine, with another key market, Russia, also suffering in its aggressive support of pro-Russian separatists in the Eastern European country.

The mainboard-listed company said its second quarter net profit fell by 28.1 per cent to US$2.7 million (S$3.4 million).

Revenue for the three months to June 30 dropped by 7.7 per cent to US$59.3 million.

The group fell to a net loss of US$339,000 in the first six months, against a profit of

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