This brings its earnings for the FY2022 to US$43.9 million, 49.9% higher y-o-y. Without the non-recurrent profits for the FY2021, Delfi’s core business improved by 68.7% y-o-y.

The earnings growth is attributable to the higher FY2022 revenue, which grew by 19.2% y-o-y to US$483.0 million.

The higher full year revenue, in turn, is due to growth from Delfi’s own brands and agency brands and across all of its markets.

Gross profit for the FY2022 increased by 23.9% y-o-y to US$148.3 million in tandem with the higher revenue while gross profit margin (GPM) for the period grew by 1.2 percentage points to 30.7%.

FY2022 ebitda increased by 27.2% y-o-y to US$74.0 million while ebitda margin increased by 1.0 percentage points to 15.3%.

See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/capital/results/vicplas-reports-521-lower-profit-after-tax-42-mil-fy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Vicplas reports 52.1% lower profit after tax of $4.2 mil for FY2023</a>

Earnings per share (EPS) for the 2HFY2022 and FY2022 stood at 4.01 US cents and 7.18 US cents respectively.

As at Dec 31, 2022, cash and cash equivalents stood at US$77.1 million.

A final dividend of 2 US cents per share and a special dividend of 0.72 US cents has been proposed. This brings the total dividend for the FY2022 to 4.30 US cents per share, up 51.9% y-o-y. The dividend will be payable on May 15 upon its approval at the next annual general meeting (AGM) on April 25.

See also: <a class='gtm_see_also_2_inread' style='text-decoration: underline;' href='/capital/results/isdn-posts-113-lower-revenue-438-lower-net-profit-1hfy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>ISDN posts 11.3% lower revenue, 43.8% lower net profit for 1HFY2023</a>

“Our FY2022 performance reflects the cumulative investment in our brands, in product development and innovation, in new product segments and in expanding our distribution network. These growth strategies have all borne fruit and enabled the group to recover from the pandemic slump despite global economic uncertainties,” says John Chuang, Delfi’s CEO.

“We are very encouraged by the progress we have made and the momentum we have built. But we are not resting on our laurels. Instead, we continue to plan ahead with strategies and product launches which will help sustain our future growth. We believe our strong brands, innovative approach and effective distribution strategies will continue to hold us in good stead and enable us to continue to grow our business across all our markets and to meet the evolving needs of our customers,” he adds.

Looking ahead, the group remains confident of its ability and track record to navigate the challenging headwinds such as the sluggish global economy in 2023.

“Delfi will continue to focus on its core strategic products and drive growth in its premium product category. In line with the global trend towards healthier lifestyles and greater environmental awareness, the group will continue to develop new products to expand its healthier snack category,” says the group.

Shares in Delfi closed 1 cent higher or 1.09% up at 93 cents on Feb 27.

Delfi reports 2HFY2022 earnings of US$24.5 mil, 44.4% higher y-o-y

Delfi reports 2HFY2022 earnings of US$24.5 mil, 44.4% higher y-o-y

Related News

Highlights

Data is the new oil but is it as dirty?

Related News

Brokers' Digest: CDL, Centurion, Food Empire, Delfi, Nanofilm, AEM

Delfi to benefit from Indonesia's strong retail sales index: CGS-CIMB

Stocks like Delfi, Marco Polo Marine and Raffles Medical could benefit from Indonesia's strong economic performance