Neo Group's profits jumped four-fold to $2.8m

Thanks to stronger food catering business.

According to OSK, Neo Group, Singapore’s event caterer announced its 1HFY14 results this morning. Net profit jumped by 293.6% y-o-y to SGD2.8m on the back of SGD23.1m revenue (+23.2% y-o-y).

Here's more:

This is largely driven by the stellar performance of the group’s food catering business which grew by 28.0% y-o-y to SGD17.2m.

The group also declared dividends of 1.16 cents for the period (+0.67 cents y-o-y). Going forward, management remain upbeat about the outlook and expect a strong 2H performance in comparison with the 1H in view of the major festive occasions.

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