SINGAPORE (Feb 9): F&B group Envictus International reported 1Q losses widened to RM4.7 million ($1.6 million) from RM1.6 million.
This was due largely to a 24.3% increase in operating expenses to RM46.4 million on higher selling, marketing and administrative expenses linked to Texas Chicken and San Francisco Coffee chain as well as higher operating expenses of the newly acquired Delicious restaurant business.
Revenue rose 7.3% to $109.1 million. Sales from its food services division grew 47.7% to RM41.5 million driven by the Texas Chicken outlets which opened 10 new restaurant outlets. Sales from the trading and frozen food division declined 6.3% to RM41.5 million while sales from the nutrition division posted a 19% fall in revenue to RM7.7 million and sales food processing division fell 7.1% lower sales of RM18.4 million.
Group CEO Kamal Tan says the group will open four Texas Chicken outlets and 10 San Francisco Coffee outlets over the next three quarters. In addition, Gourmessa, the division’s butchery business, will complete relocating to its new factory building in the Selangor Halal Hub, located in Pulau Indah, in the third quarter of FY18.
Shares in Envictus International closed 3 cents higher at 38 cents.
