In the three months ended 30 June 2012, net profit attributable to equity holders of the company fell to S$12.3 million from S$14.7 million in the same period a year earlier.
The decline is driven primarily by higher selling and distribution costs, as well as a hike in administrative expenditure.
Revenue for the quarter rose 10.7 per cent on-year to S$126.3 million.
Going forward, Yeo Hiap Seng said it expects the group's performance to be "satisfactory" in the next 12 months, but acknowledges that its F&B division's margins are likely to be squeezed due to increased pricing competition in the markets and rising raw material costs.
For its property division, the company said it will continue to sell the remaining 31 units of development properties.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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