Super Coffeemix Manufacturing, the manufacturer of 3-in-1 instant coffees, reported a 27% increase in net profit to $9.1m for the three months ended 30 September 2009 (3Q09) as the group continues to grow its presence in both existing and new markets.

Sales revenue declined by 3% to $77.6 million from $80.2 million in the comparable period of 3Q08 mainly due to decreased sales into the Indonesian market. Increased selling, distribution, general and administrative expenses resulted in higher total operating expenses. Despite the soft sales revenue and higher operating expenses, gross profit margin increased from 30.3% to 33.4% of sales revenue, leading to a 7% jump in gross profit to $25.9 million from $24.3 million. The improvement in gross profit margin was mainly due to lower raw material costs incurred in 3Q09. Consequently, profit from operating activities increased from $9.7 million to $9.8 million.

The period under review saw a net gain from investment securities of $0.6 million against the last comparable period which suffered a net loss from investment securities of $1.3 million due to fair value loss on the Group’s quoted equity investments.

Overall, Super Coffeemix says the group maintained its upward trajectory and called in a strong 3Q09 net profit of $9.1 million from $7.2 million, a 27% jump from the last corresponding quarter. Net profit attributable to equity holders spiked 30% to $8.9 million from $6.9 million.

The group’s balance sheet remains robust with a net cash position of $45.7 million and current ratio of about 3.2 times.