SINGAPORE: Food logistics and catering supplier Singapore Food Industries (SFI) saw a 4.9 per cent rise in net earnings to S$5.8 million in the third quarter ended September compared to the previous corresponding period.

This was achieved on the back of a 2.4 per cent decrease in revenue in the same period to S$158 million.

The poorer sales was attributed to a weaker Sterling pound, which affected the company's operations in Britain.

Business in that market saw a loss of S$2.5 million in the third quarter compared to a S$600,000 loss last year.

Its Singapore operations saw a 5.4 per cent increase in sales over the same period last year.

The company expects a better performance for the current financial year compared to last year.

But it warns that full-year earnings could be affected if economic conditions continue to deteriorate.

- CNA/yt