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Jumbo’s 3Q earnings double to $3.4 mil

The Editor
The Editor8/13/2016 12:20 PM GMT+08  • 1 min read
Jumbo’s 3Q earnings double to $3.4 mil
SINGAPORE (Aug 13): Jumbo Group, the operator of restaurants, saw 3Q earnings increase by double to $3.4 million from $1.7 million a year ago.
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SINGAPORE (Aug 13): Jumbo Group, the operator of restaurants, saw 3Q earnings increase by double to $3.4 million from $1.7 million a year ago.

This came on the back of joint ventures, a subsidiary being fully owned by the company after its IPO restructuring exercise, and higher sales.

Revenue increased 13.8% to $32.7 million from $28.7 million. This was mainly due to contributions from the group’s two new Jumbo Seafood restaurants located at Raffles City Shanghai which opened in August 2015 and the Shanghai International Finance Centre which opened in January, as well as an overall increase in revenue from the rest of the group’s restaurants.

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