Food Empire Holdings, one of the leading food and beverage manufacturers, today announced strong demand for the group’s products in all its key markets had resulted in a first quarter profit after tax of US$4 million ($5.5 million).

Group revenue jumped by 34.6% from US$28.8 million in 1Q09 to US$38.7 million in 1Q10. Demand was strong in the group’s largest market, Russia, where the economy continued to recover. In the group’s second largest country market, Ukraine, political and economic stability led to growing confidence among consumers which helped to improve sales for the group. The group was also encouraged by the growth of its new markets, in particular the Middle East.

Tan Wang Cheow, Group Chairman and Managing Director, says improving conditions gave the group good reasons to be positive about the rest of the year.