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Food Empire expects to report 'substantially higher' profit after tax for FY2022

Felicia Tan
Felicia Tan • 1 min read
Food Empire expects to report 'substantially higher' profit after tax for FY2022
The group is expected to release its results for the full year on or around Feb 27. Photo: Albert Chua/The Edge Singapore
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Food Empire F03 -

says it expects to report a “substantially higher” profit after tax for the FY2022 ended Dec 31, 2022.

The increase was mainly due to better operating profit and a one-off gain from the disposal of a non-core asset, says the group.

In its 9MFY2022 results, Food Empire revealed that it made US$15.0 million ($19.9 million) from the same disposal. The group had sold its light industrial building in Harrison Road, Tai Seng, Food Empire Building, to a wholly-owned subsidiary of Lian Beng Group for $49.3 million in June 2022.

The group is expected to release its results for the full year on or around Feb 27.

Shares in Food Empire closed 1 cent higher or 1.31% up at 77.5 cents on Feb 13.

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