SINGAPORE (Sept 11): In the latest earnings season, the majority of local F&B firms reported huge losses. But, despite the overall lacklustre performance, market watchers remain positive on the sector.
BreadTalk, Jumbo, Neo Group, Japan Foods Holding and Kimly were among those that saw their earnings dragged down by higher operating costs, which overshadowed increases in revenue.
Meanwhile, others found themselves starved of revenue and saw a corresponding decline in earnings. These include Soup Restaurant and No Signboard, which fell into a loss of $1.4 million in 3Q19 compared to earnings of $0.8 million a year ago.
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