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Neo Group's net profit soars 61.7% to $20.7m in Q1
Its food catering segment drove growth.
Neo Group reported that its net profit jumped 61.7% year-on-year to $20.7m in the firstquarter, driven by robust revenue growth in its Food Catering and Food Retail segments.
Its newly-acquired, 55%-owned subsidiary Thong Siek Holdings, maker of DoDo Fishballs, also made its maiden revenue contribution of $3.5m during the quarter.
The growth in Food Catering business volume was due to effective print and broadcast advertising and well-received SG50 promotions, while the Food Retail business benefitted from promotions and events held during the 2015 SEA
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