SINGAPORE: Home comforts for Singapore Food Industries
Strong sales growth at home boosted profits at Singapore Food Industries during the first half of the year, the company said today (24 July).
Net profit jumped 29.5% to S$18.2m (US$13.4m) during the six months to the end of June, as sales in Singapore climbed 17.5%.
Group turnover was up 3.4% to S$342.7m, although sales in the UK and Ireland, markets that account for over half of SFI's revenue, dipped 4.9% to S$190.1m, thanks in part to the impact of a weak pound against the Singapore dollar.
However, once currency fluctuations were excluded, sales in the UK and Ireland rose 4.7%. SFI, which owns UK soup brand New Covent Garden Food Co., said its soup sales in the UK and Ireland had grown 12% during the first half.
Companies: Singapore Food Industries
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