Neo Group, the food catering group in Singapore, reported it has achieved earnings of $2.5 million for the six months ended July 2014 (6M2015).
Revenue was lifted 21.2% to $28 million by an increase in sales for the Food Catering Business and Food Retail Business, up from $23.1 million for the six months ended July 2013 (6M2014).
Food Catering business grew by 17.3% or $3 million mainly due to an increase in social catering events and an increase in market share for corporate and government sectors in 6M2015. With higher delivery sales and the commencement of new outlets, our Food Retail business also did well, growing 29.9%. Overall, revenue increased 21.2% to $28 million in 6M2015.
Net profit in 6M2015 was $2.5 million as compared to $2.8 million in 6M2014 mainly due to the bottomline not capturing the full length of Chinese New Year season in the period as well as an increase in sales team and in advertising to drive business growth.
Based on its latest set of results, the group achieved Earnings per Share (EPS) of 1.75 cents per share and Net Asset Value (NAV) per share of 14.2 cents as at 31 July 2014. Both EPS and NAV are based on 144 million ordinary shares in issue during the period.
In line with the group’s commitment to recommend and distribute dividends of not less than 60% of its earnings in each of FY2013 and FY2014, the directors have proposed a tax-exempt interim dividend of 1.05 cent per share for 6M2015.>
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