Food Empire's 1Q earnings up 14% to S$9.6 mil

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SINGAPORE (May 11): Food Empire reported 1Q18 earnings increased by 14% to US$7.19 million (S$9.64 million), compared to US$6.31 million in 1Q17.

Revenue was 15.5% higher at US$72.1 million, from US$62.4 million a year ago.

This was mainly due to higher revenue contribution from all of the group’s markets: Russia, Ukraine, Kazakhstan and CIS markets, Indochina and Other Markets.

Russia contributed the most to the total revenue of US$30.6 million, 2.2% higher y-o-y, mainly due to appreciation of...(click on link for full story on