Yeo Hiap Seng’s earnings double in 2Q

SINGAPORE (July 27): Yeo Hiap Seng earnings for 2Q ended June doubled to $8.1 million from $4 million due to higher profit from its F&B division.

Revenue stood at $112.85 million, down from $116.93 million a year ago.

F&B revenue decreased by 2.5% to $111.3 million but recorded higher segment profit of $6.6 million in the current quarter as compared to $1.79 million last year mainly due to lower advertising and promotion expenses, lower selling and distribution expenses and lower administrative expenses.

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