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Food Empire posts turnaround in 4Q with earnings of $3.7 mil

Samantha Chiew
Samantha Chiew2/28/2019 06:16 PM GMT+08  • 2 min read
Food Empire posts turnaround in 4Q with earnings of $3.7 mil
SINGAPORE (Feb 28): Food Empire has announced that it has reversed out of the red in 4Q18 with earnings of US$2.72 million ($3.67 million), compared to a loss of US$2.75 million in 4Q17.
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SINGAPORE (Feb 28): Food Empire has announced that it has reversed out of the red in 4Q18 with earnings of US$2.72 million ($3.67 million), compared to a loss of US$2.75 million in 4Q17.

This brings FY18 earnings to US$18.1 million, 28.0% higher than US$14.1 million in FY17.

However, revenue for the quarter dropped by 5.6% to US$70.0 million from US$74.1 million last year, mainly due to lower contribution from most of the group’s markets – Russia, Kazakhstan and CIS markets, Indochina, and other markets – except Ukraine.

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