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Food Empire CEO raises stake as coffee distributor expands in India

Benjamin Cher
Benjamin Cher2/5/2018 08:00 AM GMT+08  • 4 min read
Food Empire CEO raises stake as coffee distributor expands in India
SINGAPORE (Feb 5): Food Empire Holdings’ CEO Sudeep Nair has increased his stake in the company, buying 1.5 million shares in two tranches on Jan 23. He bought 511,500 shares for $351,860.85, or an average of 68.8 cents each, and 963,400 shares at $658
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SINGAPORE (Feb 5): Food Empire Holdings’ CEO Sudeep Nair has increased his stake in the company, buying 1.5 million shares in two tranches on Jan 23. He bought 511,500 shares for $351,860.85, or an average of 68.8 cents each, and 963,400 shares at $658,031.10, or an average of 68.3 cents each. Nair now has a deemed interest of 10.5% in Food Empire.

The company, which distributes the 3-in-1 MacCoffee mix as well as other F&B products in Russia, reported a strong set of financials for 3QFY2017 ended Sept 30. Earnings increased 26.8% y-o-y to US$7.3 million ($9.5 million), on the back of higher sales and margins as well as lower advertising and promotion expenses.

It has made a number of announcements since then, including a warning on Jan 19 that it expects to report a loss for 4QFY2017. It will, however, report a profit for the full year, the company says.

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