Super Group sees 3Q net profit dip 6% to $12.7m

Super Group, the manufacturer of branded instant beverages and convenience foods, says net profit dipped 6% to $12.7 million in 3Q11 from a year ago (3Q10) due to higher raw material costs.

3Q11 turnover increased 23% to $107 milllion due to increasing sales achieved by both branded consumer and Ingredient businesses.

Branded Consumer sales grew by 4% arising from sales increment in key Southeast Asia markets.

Super Group expects market conditions to remain competitive in the next 12 months while raw material costs and currency fluctuations will continue to impact the group’s operating performance. Management is, however, familiar with these challenges and will take appropriate actions to mitigate their impact on the group’s businesses. The group is optimistic that its on-going efforts to stay ahead of the competition will generate positive contributions to its operating performance.

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