JB Foods 2Q earnings surge fourfold to S$8.6 mil on stronger demand

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SINGAPORE (Aug 7): JB Foods, one of the major cocoa ingredient producers in Malaysia, reported 2Q earnings surged more than fourfold to US$8.6 million (S$11.7 million) from a year ago, bringing 1H earnings to nearly US$13 million.

Group revenue increased 2.6% to US$148 million from a year ago, mainly due to stronger customer demand, partially offset by lower average selling price to the group’s customers, arising from lower cocoa bean prices.

Gross profit more than doubled to US$13.2 million, mainly due to...(click on link for full story on theedgesingapore.com)