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Jumbo kept at ‘hold’ on lacklustre Singapore operations

The Editor
The Editor5/16/2017 12:7 PM GMT+08  • 2 min read
Jumbo kept at ‘hold’ on lacklustre Singapore operations
SINGAPORE (May 16): UOB Kay Hian, DBS and Maybank Kim Eng are maintaining a “hold” call on Jumbo Group with a target prices of 64 cents, 72 cents and 66 cents respectively.
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SINGAPORE (May 16): UOB Kay Hian, DBS and Maybank Kim Eng are maintaining a “hold” call on Jumbo Group with a target prices of 64 cents, 72 cents and 66 cents respectively.

Jumbo’s 2Q17 earnings fell below analysts’ expectations. The chilli crab specialist reported 0.3% higher net profit of $5.8 million from a year ago even as sales dipped 0.6% to $39.4 million. The fall in revenue was mainly due to the lacklustre Singapore operations, namely the Jpot brand, Bak Kut Teh (BKT) segment and the flagship East Coast seafood outlet.

(See also: Jumbo Group 2Q earnings up 0.3% to $5.8 mil)

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