Yeo Hiap Seng’s net profit rises 3% in FY2024

The group recommended a dividend of $0.02 per ordinary share.

Yeo Hiap Seng Limited reported a net profit of $6.9m, a 3% year-on-year increase for the financial year ended 31 December 2024.

However, group revenue declined 1.2% to $328.6m mainly due to lower sales of co-packing revenue.

Despite this, momentum in the company’s core food and beverage business provided a positive boost with revenue growing 1% YoY to $299.5m.

This was driven by stronger sales in Malaysia, Singapore, and Europe, which compensated for challenges in markets such as China, Hong Kong, and the United States.

The group recommended a dividend of $0.02 per ordinary share.

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