food and beverage (F&B)

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.

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Jumbo enjoys robust outlook with expansion strategy, but China exposure may pose a problem

SINGAPORE (May 22): CGS-CIMB Research and UOB Kay Hian are maintaining their “add” and “hold” calls on Jumbo Group with target prices of 52 cents and 41 cents, respectively, after the group’s 2Q19 results came in line with both research houses’ expectations.

BreadTalk reports 52.4% higher earnings of $1.7 mil on higher revenue

Singapore (May 7): BreadTalk Group has announce earnings of $1.7 million for 1Q19, up 52.4% from $1.1 million in earnings a year ago on higher revenue.

Revenue for the quarter rose 6.1% to $157.6 million from $148.5 million a year ago, led by growth across all business divisions. The group attributes this to its continual focus on improving the quality of its products as well as the overall efficiencies in the central kitchen and procurement efforts.

Koufu reports 12.3% growth in 1Q earnings to $7 mil on higher revenue

SINGAPORE (May 6): Food court operator Koufu Group has announced 12.3% higher 1Q19 earnings of $7 million from $6.2 million a year ago, due to higher contributions from across its business segments.

Revenue for the quarter grew 4.9% to $57.8 million from $55.1 million in 1Q18 as Koufu’s business segments, namely outlet & mall management as well as F&B retail, both registered higher contributions over the period under review.

Jumbo opens three new F&B outlets in Singapore

SINGAPORE (April 12): Jumbo Group has opened three new restaurants in a move to expand in Singapore, with a new Jumbo Seafood outlet at Jewel Changi Airport as well as two new concepts at Far East Square, all of which were launched today.

This brings the group’s total number of food and beverage (F&B) outlets to a total of 14.

Koufu to benefit from MBS expansion, new outlet opening a possibility: UOB

SINGAPORE (April 9): UOB Kay Hian is maintaining its “buy” call on Koufu Group with an unchanged target price of 95 cents while highlighting Koufu as a potential beneficiary from the upcoming expansion of Marina Bay Sands (MBS), where the group operates an existing food court.

See: This F&B empire is a steal at current valuations, says UOB Kay Hian

Neo Group to consolidate & shift operations to upcoming high-tech facility at Jurong

SINGAPORE (Mar 15): Catering company Neo Group is moving from its headquarters from Enterprise Road to 30B Quality Road at Jurong, where the group intends to construct a high-tech catering hub and integrated facility spanning 300,000 sq ft and 10 storeys high. 

The facility broke ground today, and is scheduled for completion in 4Q20.

In a press release on Friday, Neo Group says its upcoming high-tech catering hub will be the first of its kind in Singapore as the group consolidates its operations to “serve as a vital nerve centre to accelerate the group’s future expansion”.

Lifebrandz 2Q losses widen 18% to $0.6 mil on higher sales activities, business expansion

SINGAPORE (Mar 14): Lifebrandz saw its losses in 2Q widen 18% to $0.6 million from $0.5 million a year ago, mainly due to an increase in total expenses which the group attributes to higher sales activities and business expansion.

This F&B empire is a steal at current valuations, says UOB Kay Hian

SINGAPORE (Mar 8): UOB Kay Hian is initiating coverage on Koufu Group at “buy” with a target price of 95 cents, which implies a 41.8% upside to its last close of 67 cents.

The move comes on UOB’s belief that the counter is deeply undervalued based on 18.1 times FY19F P/E, and pegged to a 10% discount to peers’ average.

In a Friday report, analyst Yeo Hai Wei highlights Koufu as “a steal” at current valuations for a company with solid niche leadership in a potential high growth, high margin business, in his view.

Temasek-backed Impossible Foods to contest Bill Gates' Beyond Meat in Singapore

SINGAPORE (Mar 6): Starting today, blocks of Impossible Foods Inc.’s plant-based meat will be delivered to eight restaurants in Singapore to be made into a variety of cuisine from burgers and ‘meatballs,’ to char kway teow and ‘beef’ Wellington.

Headquartered in California, the Temasek-backed firm’s entrance into Singapore comes hot on the heels of its rival Beyond Meat, a Los Angeles-based startup backed by Microsoft’s Bill Gates.

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