Despite seeing higher revenue in its 3QFY2021, F&B company Food Empire has reported a sharply lower profit after tax of just US$3.09 million ($4.16 million), compared to US$6.25 million in the same period last year. 

This is despite revenue rising 8.8% from US$70.29 million to US$76.44 million, mainly from its Russia and South-Asia markets. 

The decrease in PAT was mainly due to a lower profit margin, partly offset by lower exchange loss. Net profit margin fell more than half, from 8.9% to 4%.

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