SINGAPORE (Nov 21): Jumbo Group, the seafood restaurant operator, reported FY18 earnings of $11.0 million, 23.8% lower compared to the earnings of $14.5 million in FY17.

Total revenue increased 5.5% to $153.0 million for FY18 mainly due to an increase in revenue contribution from Jumbo’s Singapore and China operations.

Revenue from the Singapore operations increased by $2.1 million, while revenue from its outlets in the China increased by $5.8 million, mainly due to full year revenue contributions from two new Jumbo Seafood restaurants in Shanghai and Beijing as well as four months revenue contribution from a new Jumbo Seafood restaurant in Xi’an.

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