17 May 2014

Super Group - 2014Q1 Result Summary - May 2014

Some keynotes abstracted from quarterly report released by the company last few days:

Comparison Versus 2013Q1 Result

- Revenue -6%  in both branded consumer and food ingredient sales, due mainly to citil unrest in Thailand which started in November 2013 and lower food ingredient sales in Thailand.
- Gross Profit -5%
- Gross Profit Margin 37.5% mainly due to effective costs management

- Selling & Distribution E +2% due to group's continuous advertising and promotion campaigns to reinforce Super new logo
- General & Admin E +11%  due mainly to absence of amortization of deferred gain of S$0.8M per quarter and higher administration cost incurred for expanded production facilities.

- Operating Profit - 16%

- Net Finance Income -75% mainly due to lower foreign currency gain
- Net Other Income +42%

- Share of loss of associates -60% mainly due to disposal of Sun Resources in FY2013.

- PBT -20%
- Net PRofit -19%

- Profit attributable to Owners -19%

- CAPEX of S$11M mainly due to construction and equipment costs incurred for the Singapore Tuas factory extension, the new China Changzhou plant, the botanical herbal extraction facility in Malaysia and the Thailand warehouse extension.

- As Thailand is one of the Group’s key BC markets, the prolonged civil unrest in Thailand has negatively affected the Group’s businesses. Management is closely monitoring the development in Thailand and will take the appropriate measures to mitigate the impact on the Group’s businesses.

- The Group expects market conditions to remain competitive in the next twelve months while rising raw material costs and currency fluctuations will impact the Group’s operating performance. Management is, however, familiar with these challenges and will take appropriate actions to mitigate their impact on the Group’s businesses. Management is optimistic that the Group’s on-going efforts on branding and product innovations will generate positive contributions to its operating performance in the longer term and allow the Group to stay ahead of competition.

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