Neo Group reports higher Q4, full-year net profit

CATERER Neo Group on Wednesday reported a net profit of S$3.92 million for the fourth quarter ended March 31, up nearly 43 per cent from the corresponding quarter a year ago as it reported higher revenue.For the full year, net profit shot up 48.7 per cent to S$5.4 million, while revenue edged up 1.6 per cent year-on-year to S$181.02 million owing to stronger revenue contributions from its food catering and food retail businesses, as well as the other businesses segment.

Neo Group's chief executive Neo Kah Kiat said:"We will continue to actively pursue higher-margin and recurring income opportunities across the various market segments. This covers the full spectrum, from childcare and elderly to the fast-growingbusiness, to institutional catering, corporate clients and venue partnerships. Moving ahead, we aim to continuously maximise shareholder returns through improved operational synergies and efficiencies.

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