Food Empire Holdings is expecting to see “significantly higher” profit after tax for the 1HFY2022 ended June. This will be mainly attributable to a better operating profit for the period on the back of higher average selling prices (ASPs).
The higher profit after tax for the period is also due to the higher currency exchange gain, as well as an increase in share of profit from an associated company, says Food Empire in its July 28 statement.
The group says it is still in the midst of finalising its results for the half-year period. It expects to release its unaudited financial statements on or around Aug 11.
Shares in Food Empire closed 1 cent lower or 2.11% down at 46.5 cents on July 28.
