Super Group posts 15% fall in 1Q earnings to $11.6 mil

SINGAPORE (May 11): Weaker sales and higher expenses brought coffee-maker Super Group’s 1Q earnings down 15% to $11.6 million.

Revenue slipped 2% to $119.4 million, mainly hurt by weaker regional currencies, in particular the Malaysian Ringgit and Thai Baht. In local currency terms, branded consumer sales would have risen by 2%, leading to an overall 0.3% rise in total sales.

In 1Q, branded consumer sales decreased in the Myanmar, Thailand and China markets, while food ingredient sales also fell in the China and Philippines markets.

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