Jumbo Group

Jumbo opens second Tsui Wah outlet in Singapore

SINGAPORE (Sept 17): Jumbo Group has opened its second Tsui Wah outlet in Singapore, located at The Heeren along the Orchard Road shopping belt.

This comes on the back of the group’s opening of Singapore’s first Tsui Wah outlet in Clarke Quay in June 2018, which saw a positive response during its opening with many people queueing to enter the restaurant.

See: Jumbo sees tea-riffic response with latest Tsui Wah opening

Higher costs bite F&B earnings; overall pie growing, but shift towards lower end seen

SINGAPORE (Aug 19): In this latest earnings season, most of the local F&B stocks suffered huge losses. While revenue for most have increased, operating costs rose by a bigger quantum, causing a drag in earnings.

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Jumbo's rapid expansion may have caused 3Q earnings miss but growth thesis stays intact

SINGAPORE (Aug 13): Jumbo Seafood restaurants serve up Singaporean-style Chinese seafood cuisine that is popular with locals and tourists alike.

But instead of having them travel all the way to the republic to enjoy chilli crab and drunken prawns, Jumbo has gone to Bangkok, Fuzhou, Ho Chi Minh, Taipei, Taichung and Seoul, bringing the total number of restaurants across Asia to 18.

Jumbo posts 24.8% drop in 3Q earnings to $1.7 mil amid renovation closure, higher costs on outlet openings

SINGAPORE (Aug 7): Restaurant operator Jumbo Group saw its earnings fall 24.8% to $1.7 million for the 3Q19 ended June amid operational costs incurred from its new restaurants.

Earnings per share (EPS) remained flat at 0.3 cent per share for 3Q19, unchanged from the same quarter last year.

3Q19 revenue increased marginally by 0.8% to $36.4 million, edging up from $36.1 million a year ago.

Jumbo goes Gangnam; brings total seafood restaurants in Asia to 18

SINGAPORE (July 17): Jumbo, the F&B group, is opening its first franchised Jumbo seafood restaurant in Seoul.

The newly-opened Jumbo Seafood restaurant is located within Academy Plaza and situated next to Dogo Station in the Gangnam district.

Gangnam is one of the upscale neighbourhoods in South Korea, featuring luxury residential real estate properties and home to upmarket fashion brands. The area is also frequented by tourists.

Jumbo Group started at 'buy' by RHB on store openings, expansion of franchisee network

SINGAPORE (June 21): RHB Research is initiating coverage of Jumbo Group with a “buy” and a target price of $0.47 as the stock is expected to rerate upwards on the back of store openings and an expansion of its franchisee network.

The group’s total turnover has shown an increasing trend - totaling $153 million in FY18, up from $145 million in FY17. Analysts are forecasting a figure of $167 million for FY19F.

Jumbo's strong operations in Singapore to help offset softer performance in China

SINGAPORE (May 31): UOB Kay Hian is reiterating its “hold” recommendation on Jumbo Group with a target price of 41 cents and an entry price of 32 cents.

After 10 years, the group opened two new Jumbo Seafood outlets in Singapore – ION Orchard (Dec 2018) and Jewel Changi Airport (Apr 2019).

In a Wednesday report, lead analyst Joohijit Kaur says, “Despite being smaller outlets, the higher foot traffic at these outlet locations should more than offset the closure of the National Service Resort & Country Club (NSRCC) Seafood outlet in 2018.”

Jumbo posts 18.4% increase in 2Q earnings to $5.1 mil on lower costs and expenses; declares 0.5 cents interim dividend

SINGAPORE (May 14): Jumbo Group’s 2Q19 earnings have increased by 18.4% to $5.1 million, compared to $4.3 million in 2Q18.

This brings 1H19 earning to $7.5 million, 18.0% higher than $6.4 million in 1H18.

However, revenue for the second quarter ended March was 1.4% lower at $41.3 million from $41.8 million in the previous year, due to lower revenue from the group’s operations in China. But the decrease in revenue was partially offset by higher revenue from the Singapore operations and franchises.

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.

Jumbo seeks domestic and overseas growth

SINGAPORE (Mar 15): Jumbo is planning to anchor growth in the domestic market through new outlet openings and new F&B concepts while riding on brand equity to expand overseas footprints.

Meanwhile, UOB KayHian says it will keep its 2019-21 earnings forecasts unchanged as it awaits announcements of any conclusion of new franchises or outlet openings.

“Maintain ‘hold’ with a PE-based target price of 41 cents, pegged to peers’ average 20x 2019F earnings. Entry price is 37 cents,” says analyst Yeo Hai Wei in a Thursday report.

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