Mewah International Inc. reported net profit of US$9.63 million for the six months ended Jun 30, a 74.4% year-on-year (YoY) fall that the agri-food group attributed to weaker sales volumes and compressed margins, especially in its consumer-pack segment.

Earnings per share declined to 0.79 US cent from 2.51 US cents in the prior-year period. The board declared a tax-exempt interim dividend of S$0.0014 per share, lower than the S$0.0018 paid a year earlier; the payout is scheduled for Sept 2, with the books closing on Aug 24.

Group revenue eased 5.9% YoY to US$2.81 billion as total sales volume fell 6.8% to 2.37 million metric tonnes (MT). The bulk segment generated US$2.22 billion in revenue (-1.2% YoY) on shipments of 1.90 million MT (-4.2%), while the consumer-pack division saw revenue contract 20.2% to US$593.2 million on volumes of 461,800 MT (-16.2%).

Pre-tax earnings mirrored the divergent segment performances: the bulk operation remained profitable with US$36.1 million, but the consumer-pack unit swung to a US$12.5 million loss. Group profit before tax dropped 56.5% to US$23.7 million, weighed down by a 21.6% slide in operating margin to US$115.3 million.

The bottom line was further pressured by a US$7.3 million foreign-exchange loss, reversing a US$35.2 million gain a year earlier, and by higher export duties and levies. These setbacks outweighed lower finance costs and reduced impairment charges.

Looking ahead, management said trading conditions are likely to remain mixed through the rest of 2026, citing global trade uncertainties, weather patterns and evolving regulations. The group intends to leverage its integrated business model and global distribution network while maintaining a prudent balance-sheet stance and focusing on operational efficiency and risk management to sustain shareholder returns.