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Posts Tagged ‘food empire’

Food Empire swings back to black with 1H profit of $9.4m

August 13th, 2010 | No Comments

Food Empire Holdings, the manufacturer of instant beverage products, frozen convenience food and snacks, says it achieved a turnaround in the first half of 2010 with a profit after tax of US$6.9 million ($9.4 million), compared to a loss of US$2.2 million loss for the same period last year.

The strong results came on the back of a surge in sales, particularly in the group’s largest market of Russia. The group’s revenue for the first half of this year was US$81.9 million, an increase of 47.0% compared to the same period in 2009.

Food Empire unit buys freehold property for $14m

May 26th, 2010 | No Comments

Food Empire Holdings said its subsidiary, Empire Instant Food, has agreed to buy a freehold property for $13.9 million. The building at 31 Harrison Road, Harrison Business Suite, Singapore has a land area of 9,967 square feet and usable area of 20,408.54 square feet.

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Food Empire posts 1Q profit after tax to US$4m

May 14th, 2010 | No Comments

Food Empire Holdings, one of the leading food and beverage manufacturers, today announced strong demand for the group’s products in all its key markets had resulted in a first quarter profit after tax of US$4 million ($5.5 million).

Food Empire Holdings posts 86% fall in FY09 profit before tax to $4.5m

February 26th, 2010 | No Comments

Food Empire Holdings, the manufacturer of instant beverage products, frozen convenience food, confectionery and snack food, says profit before tax fell 86.2% to US$3.2 million ($4.5 million) while revenue fell 39.3% to US$134 million and for the year ended 31 December 2009.

But the group says it finished the year with a strong rebound in demand for its products resulting in a 58.2% increase in revenue to $48.5m in Q4 2009 compared to the Q3 2009. Compared to Q3 2009, revenue from Russia rose by 63.8% to $25.9 million, in Eastern Europe and Central Asia by 68.4% to $17.1 million and in other markets by 17.4% to $5.5 million.

Food Empire to acquire 40% stake in frozen seafood manufacturing company

October 9th, 2009 | No Comments

Mainboard-listed Food Empire Holdings says wholly-owned subsidiary Future Enterprises has signed an agreement to acquire a 40% stake in PT Marindo Makmur Usahjaya (MMU) for US$1 million.

MMU is a unit of PT Kelola Mina Laut (KML), one of Indonesia’s leading seafood exporter. The investment will be via the acquisition of 10 million new shares of Rp1,000 each.
Food Empire intends to fund the acquisition through internal resources.