Delfi swings back to profitability in 3Q earnings

SINGAPORE (Nov 10): Delfi, the company which markets and distributes its own brand of chocolate confectionery products, reversed into profitability with earnings of US$5.9 million for 3QFY16, compared with net losses of $20.7 million in 3QFY15.

Delfi said in a filing to the Singapore exchange that the losses in 3QFY15 were due to a one-time exceptional charge of US$19.4 million resulting from the settlement of the dispute with Barry Callebaut in August 2015.

Revenue rose 2.4% to US$86.6 million for the quarter to Sept, as the group’s Indonesia business recorded a 3% increase in sales in local currency terms from higher consumer spending.

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