Petra Foods, the manufacturer and supplier of cocoa ingredients and a leading player in branded consumer confectionary products in the South East Asia region, today announced that its net profit attributable to shareholders for the first quarter ended 31 March 2010 (1Q10) jumped 92% to US$8.3 million ($11.5 million) on the back of strong earnings momentum which began in FY2009, and reverberated into 1Q10.

Group revenue grew 20.4% to US$338.7 million driven primarily by the group’s Cocoa Ingredients and Branded Consumer Divisions.

Sales from Branded Consumer Division rose 37.1% to US$87.2 million while Cocoa Ingredients Division rose 15.5% to US$251.5 million.

On the group’s prospects in FY2010, John Chuang, Petra Foods’ Chief Executive Officer, says: “We are really pleased with the strong momentum that we saw in 2009, continuing into 1Q2010. Looking ahead, we expect volume growth and margin expansion to sustain, contributing strong earnings growth for the rest of the year.”