SINGAPORE (Nov 7): Yeo Hiap Seng posted a 45.8% fall in 3Q earnings to S$5.1 million from S$9.4 million a year ago due to lower net profit generated by the F&B division. F&B revenue decreased 13.7% to S$93.4 million due while division gross profit fell 19.9% to S$32.17 million due to lower revenue and higher raw material costs. A&P, selling and distribution and administrative expenses were also lower at S$2.33 million, S$2.79 million and S$2.02 respectively. There were also no property development or selling activities in the current period. Shares of Yeo Hiap Seng closed 2 cents lower at S$1.37.

Source: The Edge Markets November 07, 2016 10:32 UTC