Soup Holdings has reported earnings of $1.6 million for the FY2023 ended Dec 31, 2023, 12.4% higher y-o-y.
2HFY2023 earnings, however, fell by 26.4% y-o-y to $268,000.
Earnings per share (EPS) for the FY2023 and 2HFY2023 stood at 0.59 cents and 0.10 cents respectively.
FY2023 revenue rose by 9.3% y-o-y to $41.1 million as the group saw higher revenue from its restaurant operations. The higher revenue for the segment was mainly driven by higher sales from its existing outlets rebounding from the impact of Covid-19, as well as the opening of new outlets.
Revenue for the food processing, distribution, and procurement services segment also rose, reflecting the company’s efforts to expand its distribution networks for ready meals.
Profit before income tax was up by 32.1% y-o-y to $1.8 million.
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A final dividend of 0.2 cents per share was declared, along with a special dividend of 0.1 cent. This brings the total dividend for the year to 0.3 cents per share, down from the total dividend of 0.4 cents per share in FY2022.
As at Dec 31, 2023, cash and cash equivalents stood at $13.1 million.
Shares in Soup Holdings 5KI closed flat at 10 cents on Feb 29.
