Revenue for the quarter fell 7.4% to $87.7 million from $94.7 million in the previous year, as revenue from the F&B segment decreased 9.8% to $84.3 million.
The group attributes the lower F&B contributions to general market weakness, competitive pricing, and sales disruption in Cambodia as the new distributors are still in the process of establishing their reach and building up sales volume in this particular market.
Overall, the F&B division recorded a reduction in segment profit of $6.17 million over the quarter due to the lower gross profit, in addition to lower selling and distribution expenses of $1.4 million, primarily as a result of the lower level of activity in the current quarter.
There were no property development or selling activities in 3Q.
As at end-Sept, group cash and cash equivalents grew to $297.4 million from $205.2 million previously.
The group says it expects F&B margins to come under pressure in the next 12 months, and intends to constantly review its business strategies and operations such that improvements can be made on a continuous basis.
It adds that it will continue to reformulate its beverage products to promote healthier consumption.
Shares in Yeo Hiap Seng closed 2 cents higher at $1.29 on Friday.
