SINGAPORE (Feb 23): Yeo Hiap Seng saw its earnings fall 25.6% to $7.7 million in 4Q17 from $10.3 million in 4Q16 on lower revenue.
The latest set of results brings the group’s earnings for FY17 to $153.7 million, surging more than fivefold from its FY16 earnings of $29 million due to one-off gains on disposal of investment in Super Group, among other subsidiaries.
Revenue for 4Q17 fell 8.2% to $84 million from $91.5 million in 4Q16 due to lower contributions from the food and beverage (F&B) division, which the group attributes to general market weakness, competitive pricing, and sales disruption in Cambodia resulting from Yeo Hiap Seng’s transition to new distributors.
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