The company attributed the decline to a US$1.4m exchange loss.
SGX Mainboard-listed Food Empire's net profit after tax saw a 14.8% YoY decrease in 9M23, dropping to $57.3m (US$42.3m) from $67.2m (US$49.6m) in 9M22.
In a bourse filing, the company attributed the decline in its net profit after tax to the absence of a one-off gain of $20.3m (US$15.0m) from the disposal of a non-core asset recorded in 3Q22 and an exchange loss of $1.9m (US$1.4m).
On the flip side, the company recorded a 6.7% YoY increase in revenue to $413.7m (US$305.1m) in 9M23.
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!