YKGI's net profits in 1HFY2024 to end-June rose by 557% to $2.46 million. Revenue rose by 7.6% y-o-y to $31.9 million. The net profit in 1HFY2024 includes a deduction for the one-off IPO and related expenses $1.24 million for the Company's listing on the Catalist, on Feb 6, 2023.
YKGI stands for Yew Kee Group, which is known for duck rice. The Group manages five food courts located in Singapore under the My Kampung and Fine Food brands. The Group also leases the food courts and in turn sub-leases stalls to individual food court tenants. The food court management services provided by the Group include the upkeep of vacant stalls and allocation of such stalls to Food Court Tenants, application for and renewal of licences, collection of takings from the daily sales of Food Court Tenants, collection of management and cleaning fees from Food Court Tenants, managing arrears, addressing complaints from Food Court Tenants and customers and the cleaning, maintenance and repair of the food courts.
The F&B operations are involved in the operations of food outlets and hawker stalls under Yew Kee Duck Rice and a diverse portfolio of other non-halal and halal brands such as XO Minced Meat Noodles, My Kampung Chicken Rice, PastaGo, Victory Bakery and Kampung Kopi House. The operations of the Group’s food outlets and hawker stalls are supported by the central kitchen which procures, processes and prepares key ingredients and products for supply to the food outlets operating under the Group’s brands and certain third-party food outlets.
