Singapore-based beverage heavyweight Yeo Hiap Seng (Yeo’s) has predicted a challenging year ahead after reporting a near doubling in profits but a significant overall drop in revenue, citing ongoing inflation and soft consumer spending as key factors.
Beverage giant Yeo’s has reformulated its portfolio so that all products will contain less than 5% of sugar by 2023, in line with both consumer tastes and upcoming regulatory measures in Singapore.
Singapore F&B heavyweight Yeo Hiap Seng (Yeo’s) is making plans to reformulate as many products as it can within its beverage portfolio to both keep up with consumer trends, as well as fall in line with upcoming government standards.