SINGAPORE: Petra Foods posted Q3 profit

By Katie Smith | 10 November 2011

Singapore-based Petra Foods has today (10 November) posted a rise in third-quarter profit, boosted by higher own-brand sales.

The company reported net profit of US$13.6m for the three months ended 30 September, surging 34% on the same period last year. EBITDA reached $31m, jumping 11.8% on last year.

However, revenue dropped 0.5% to $431m for the three months. Sales in the cocoa ingredients division were down 2% because of weaker cocoa bean prices, the company said. 

However, branded consumer sales were up 4.6% to reach $104.7m, which was mainly driven by higher own-brand sales in Indonesia and the Philippines. EBITDA for the cocoa ingredients division was up 7.5% while the branded consumer sector was up 16.6%.

Petra Foods CEO John Chuang expects the business to "continue growing" by investing in additional production capacity to meet high demand for cocoa products.

He said: "Despite the continuing global macroeconomic challenges such as the volatile raw material prices and currency markets, we expect our business divisions to continue growing. Barring unforeseen circumstances, we are expecting another year of strong growth and record profit for full-year 2011."

For the nine months ended 30 September, the group posted net profit of $42.2m, up 50% on the same period last year. EBITDA reached $94.2m, up 25.4% on last year. Sales climbed 13.2% for the nine months to $1.31bn.

Sectors: Commodities & ingredients, Financials

Companies: Petra Foods

View next/previous articles

Currently reading -

SINGAPORE: Petra Foods posted Q3 profit

There are currently no comments on this article

Be the first to comment on this article

Related articles

SINGAPORE: Petra Foods appoints Seok Bee to COO role

Singapore-based Petra Foods has promoted its cocoa ingredients director to the role of chief operating officer.

SINGAPORE: Cocoa ingredients drive Petra Foods profits

Strong demand for customised cocoa ingredients boosted Singapore-based Petra Foods' profits in 2011.

Welcome to the home of food information, insight & intelligence

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page