Retail in Asia

In Sectors

Report: Singapore food and drink report Q2 2010

Research and Markets has released its Singapore Food and Drink Report Q2 2010. It provides industry professionals and strategists, corporate analysts, food and drink associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore’s food and drink industry.

As consumer confidence continues to grow on the back of economic recovery the longer-term outlook for Singapore’s food, drink and retail sectors remains positive.
Singapore’s leading cocoa ingredients and chocolate confectionery manufacturer, Petra Foods, is one such company posting positive results. For the nine-month period ending 30 September 2009, the company reported that revenue had risen 7.4 percent year-on-year (y-o-y) to USD895.3 million while net profit had surged an impressive 35.5 percent to USD15.3 million.

Meanwhile, the country’s drinks producers have also reported solid results this quarter. Singapore-based beer giant Asia Pacific Breweries (APB), the joint venture company of Singapore’s Fraser & Neave and Dutch behemoth Heineken, announced that for the financial year ending September 2009 revenue rose 2.1 percent y-o-y to SGD2.04 billion (USD1.47 billion) while profit before exceptional items climbed 19.7 percent to SGD158 million (USD114.2 million).

While these results are not sensational, they can be viewed as a success given the context in which they were achieved; consumer confidence was low and many of the brewer’s key geographical operating segments were facing severe economic slowdown or recession.

To view the full summary or download a sample of the report, visit Research and Markets.






 

(Source: Research and Markets)