Yeo Hiap Seng H1 net profit down 3%

The decline was due to currency volatility, freight disruptions, and lower product sales.

Yeo Hiap Seng (Yeo’s) reported a net profit of $3.2m in H1 2024, down 3% from a year ago.

Revenue also decreased 8.7% to $165.3m, with core Yeo’s F&B revenue also declining 4.1% to $152.0m from $158.5m.

The decline was due to the lower sales for non-Yeo’s products, foreign currency impact, and freight disruptions.

Excluding foreign currency impact, revenue remained unchanged YoY, with growth in Malaysia and Singapore offsetting weaker demand in other markets.

Meanwhile, gross profit margin rose 0.2 percentage points (pps) to 32.7% from 32.5% due to cost optimisation and improved product portfolio, which offset cost inflation.

Yeo’s expects the volatility of the regional currencies like the Indonesian rupiah and Malaysian ringgit to put pressure on their performance. The company will focus on brand strategy, launching new products, and expanding internal capabilities by upgrading its IT systems.

Follow the link for more news on

F&B news

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia