Super Group's net profit slipped 31% to $68.8m in FY14

Blame it on lower sales.

Super Group today reported that its net profit slipped 31% to $68.7 in FY14, due to lower total sales revenue, which slipped 3% to $539.5m in the period.

Branded consumer sales decreased by 4% to $351.4m due mainly to lower sales into the Southeast Asia markets, partially attributable to the weakened domestic currencies against the Singapore Dollar of some of Group’s core
markets such as Thailand and Malaysia.

The translation of sales recorded in these currencies into Singapore Dollar for reporting purposes has an adverse impact on reported sale revenue.

Food ingredients sales decreased by 2% to S$188.0m due mainly to lower sales into Southeast Asia markets, partially offset by higher sales into the East Asia markets.

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