Neo Group, the events food caterer, reported earnings soared four times to $2.8 million for the six months ended July 31 from a year ago (1H2014).
The rise in earnings come as revenue rose 23.2% to $23.1 million, mainly due to contributions from its food catering business.
Revenue from this segment grew by 28% to $17.2 million from $13.4 million in 1H2013, as a result of a higher volume of events in the social, corporate and government sectors.
The group’s food retail business also did well in 1H2014, recording an 11% increase in revenue to $5.9 million.
Based on its latest set of results, Earnings per Share (EPS) of the group improved to 1.92 cents in 1H2014, from 1.39 cents in 1H2013.
The directors are recommending a tax-exempt interim dividend of 1.16 cents per share for 1H2014.
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