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Company profit decreases

Manasa Kalouniviti
Saturday, February 24, 2018

FMF Foods Ltd's unaudited group results for the half-year ended December 31, 2017 yesterday showed a reduced net profit of $4.149 million when compared with the corresponding half-year in 2016 of $5.723m.

This represented a decline in profits of 28 per cent. The company attributed the decline in profits to the decrease in sales revenue from $105.054m (2016) to $97.819m in 2017 which was mainly because of the change in competition landscape in the local supermarket landscape and bulk wheat segments.

As a result of the reduced profits the basic and diluted earnings per share decreased from 3.82 cents in 2016 to 2.77 cents as at December 31, 2017.

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