Yeo Hiap Seng has reported lower earnings for the 1HFY2025 ended June 30, down 50.9% y-o-y to $1.58 million.
The group reported a 10.1% y-o-y lower revenue for 1HFY2025 of $148.6 million, and gross profit came in 13.7% y-o-y lower at $46.7 million.
Core Yeo’s F&B sales fell by 7.6% to $140.5 million, mainly due to earlier Chinese New Year shipment recognised in the prior calendar year and lower Hari Raya Sales in view of subdued consumer demand.
In addition, an absence of Oatly co-packing revenue of $5.6 million further contributed to the decline. Consequently, gross profit margin decreased by 1.3 percentage points (ppts) to 31.4%.
As at June 30, the group registered a net decrease in cash and cash equivalents of $7.6 million.
The group has not declared dividends for the 1HFY2025.
See also: Creative remains in the red for FY2025; guides for better FY2026
Shares in Yeo Hiap Seng closed 0.5 cents lower or 0.813% down at 61 cents on Aug 7.
