Petra Foods posts 24.5% fall in 3Q net profit to $12.8m

Petra Foods, the supplier of cocoa ingredients, said net profit for the third quarter ended Sept 30, 2012 fell 24.5% to US$10.42 million ($12.8 million) compared to a year ago.

This translated into earnings per share of 1.70 US cents, against 2.26 US cents a year earlier.

Revenue fell 16.5% to US$359.87 million due to lower sales from its cocoa ingredients division.