30 Jan 2012
Full Year Results - Key Data:
Turnover at S$977.0 million
Operating Profit at S$158.1 million
Net Profit at S$100.1 million
Earnings per share at 31.55 cents
Return on Shareholder’s Fund at 22.9 %
*4th Quarter Results - Key Data:
Turnover up 2% at S$276.8 million
Operating Profit down 3% at S$58.4 million
Net Profit down 20% at S$34.1 million
*Note: The current financial year covers a 12-month period from 1 January 2011 to 31 December 2011 and comparison is against the previous FY 2010 which is a 15-month period from 1 October 2009 to 31 December 2010.
[ Singapore – 30th January 2012 ] Cerebos Pacific Limited today announced a full year FY2011 net profit of S$100.1 million (All comparisons are against 15-months period FY2010: S$145.6 million) on a turnover of S$977.0 million (FY2010: S$1.2 billion). All three of Cerebos’ core businesses of Health Supplements, Coffee and Sauces showed reasonable growth for their respective segments. Group Operating Profit was S$158.1 million (FY2010 : S$199.0 million). Return on Shareholders’ Funds was 22.9% compared to 26.6% previously.
For the Health Supplements Division (Asia), top line was S$583.6 million (FY2010: S$706.4 million). Operating profit was S$152.6 million (FY2010 : S$188.1 million). The Food & Coffee Division (Australasia) turnover for the full year was S$393.4 million (FY2010: S$488.3 million). Operating profit was S$21.4 million (FY2010 : S$26.9 million).
The Group’s Fourth Quarter FY2011 turnover improved by 2%. Excluding the translation loss of S$4.7 million, turnover would have been 4% higher. The Group’s 4th Quarter Operating Profit was 3% lower and Net Profit was 20% lower. Excluding the translation loss of $2.5M, OP would have improved by 1% as compared to the previous corresponding quarter.
Sales for the Health Supplement Division, excluding translation loss of $6.5M, would have improved by 3%, with Thailand being the largest contributor.
Sales were adversely affected by distribution disruptions as a result of the widespread flooding in Thailand, the Group’s largest market and also by the continued impact from the Taiwan nationwide food contamination scare. OP for the Health Supplement Division for the quarter ended 31 December 2011, excluding the translation loss of $2.6M, would have been 3% higher than the previous corresponding quarter.
Sales for the Food & Coffee Division , would have been 7% higher than the previous corresponding quarter if the translation gain of $1.8M was to be excluded, mainly from better sales in the coffee category. OP for the Food & Coffee Division for the quarter ended 31 December 2011 grew by 13% mainly attributable to better sales contributions from the coffee and sauces categories and lower advertising spend.
The Board of Directors is recommending a first and final dividend of 6.0 cents per share, tax exempt one-tier. (First & final 6.0 cents per share; tax exempt one-tier in FY2010).
The Board is also recommending a bonus dividend of 19.0 cents per share; tax exempt one-tier. (FY2010: 26.0 cents; tax exempt one-tier) in recognition of the staunch support from shareholders.
Commenting on the results and giving his outlook for the coming year, Mr. Koike said: “Despite a challenging year faced with increases in raw material prices, natural disasters and an uncertain economic environment, the Group was able to manage the negative impacts to deliver satisfactory earnings. The Group’s resilience is attributable to its continued strategy of investing for long term sustainable growth. While the economic outlook for the coming year remains challenging, the Group will continue to invest in brand building, research & development and quality assurance in line with its strategy of investing for long term sustainable growth.”
Cerebos Pacific Limited Full Year Financial Statement Announcement for FY 2011.