coffee shops

Kimly maintains share buybacks; investigations remain a negative for stock

SINGAPORE (Jun 3): Kimly, which runs a chain of coffee shops, has been steadily buying back shares from the open market since late March. The latest purchase, of 860,000 shares at 24 cents, was made on May 27. This follows a purchase of 230,000 shares at the same price on May 22.

Kimly’s current streak of share buybacks began on March 27, when it bought 210,000 shares at 23.5 cents each. With the May 27 purchase, the company has bought back a total of 5.65 million shares. Under Kimly’s share purchase mandate, it can buy back up to 115.5 million shares.


Koufu announces maiden post-IPO results with $6.2 mil earnings for 2Q

SINGAPORE (Aug 29): Koufu Group reported 2Q18 earnings of $6.2 million, down by 2.6% from $6.3 million a year ago on higher property-related expenses and depreciation charges.

This brings the group’s earnings for 1H18 to $12.4 million, representing a 1.4% decline from $12.5 million in 1H17 due to similar reasons.

Together, Koufu’s 2Q18 and 1H18 financials make up the group’s maiden results announcement since it commenced trading on 18 July this year.

Asian Story acquisition brings nothing but cheer to Kimly's outlook: RHB

SINGAPORE (July 4): RHB Research is maintaining its “buy” call on Kimly with a higher target price of 46 cents compared to 43 cents previously, following news of the coffee shop operator’s $16 million acquisition of Asian Story Corp (ASC) and its Asian Story brand portfolio with a 7.7% market share.

The research house is particularly positive on the acquisition with the view that Kimly stands to benefit from longer-term growth, profit accretion and increased cash flow.

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