Restaurants

Jumbo started at 'add' for strong brand equity & regional growth prospects

SINGAPORE (June 25): CGS-CIMB Securities is initiating coverage on Jumbo Group with an “add” recommendation and target price of 62 cents, which is based on 23 times CY19F earnings, below its regional peer average of 24.7 times against a three-year EPS CAGR of 13.9% for CY17-20F.

This is in view of the group’s strong earnings growth outlook for FY19F, which the research house believes could see Jumbo opening its sixth Singapore outlet at the upcoming Jewel Changi Airport complex.

Jumbo posts 23.9% lower 2Q earnings of $4.3 mil due to ongoing expansion

SINGAPORE (May 14): Jumbo Group announced earnings of $4.3 million for the 2Q ended March, down by 23.9% from its 2Q17 earnings of $5.7 million due to higher expenses mainly incurred as part of the group’s ongoing expansion.

The latest set of 2Q results brings Jumbo’s earnings for 1H18 to $77.5 million, which is 7.5% up from $72.1 million in the same period a year ago.

8 'yu sheng' dishes to try this Lunar New Year

Toss to love, luck and prosperity with your loved ones with these luxurious and unconventional takes on the traditional yu sheng dish. 

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Jumbo kept at 'buy' with positive China expansion & 'excellent performance' in Taiwan

SINGAPORE (Jan 4): Maybank Kim Eng is maintaining its “buy” call on Jumbo Group with a target price of 70 cents, implying 26 times FY18 earnings, which is on par with its regional peers.

The research house recently hosted a non-deal roadshow (NDR) for Jumbo in Singapore, where key discussions included the group’s franchising growth strategy, expansion growths in China and operational updates.

Dairy Farm started at ‘buy’ as a proxy to the North Asian consumer boom

SINGAPORE (Sept 27): Phillip Capital is initiating coverage of Dairy Farm International at “buy” with a target price of US$9.89 ($13.41), given the Pan-Asian retailer is a proxy to the North Asian consumer boom.

The research house is forecasting a dividend per share (DPS) of 22 US cents for FY17, representing a total return of 35.1% based on the counter’s last closing price of US$7.48.

Could Singapore’s consumer sector see a pickup in investor sentiment?

SINGAPORE (June 13): OCBC Investment is maintaining its “neutral” rating on Singapore’s consumer sector given a lack of broad-based improvement for the retail scene, as well as the continued expansion and growth of e-commerce players.

This comes even as local retail sales data for April registered slightly above consensus, with retail sales up 2.6% on-year on higher sales in discretionary segments like Department Stores and Watches & Jewellery.

Singapore traders lunching again 'good news' for Michelin-starred chef

SGX

SINGAPORE (March 1): Singapore’s stock traders lost their lunch break weeks after Osvaldo Forlino opened a restaurant in the heart of the city’s business district in 2011. As Forlino readies a new cafe, he’s looking forward to welcoming the dealers, who may once again get a midday pause.

How ABR Holdings is adding spice to its business in a slowing F&B industry

SINGAPORE (Feb 24): ABR Holdings, the company behind Swensen’s ice cream and Tip Top curry puffs is branching out into catering to seek growth.

ABR is among the names that have been doing well this year. While it has not been expanding rapidly, the company has a decent track record. It has remained profitable since 2004 and has paid an annual dividend of 2.5 cents a share for the last four financial years.

The counter closed at 76 cents on Feb 23, up 7% year to date. That gives it a yield of 2.6% and an earnings multiple of 23.5 times.

Din Tai Fung JV a ‘favourable addition’ to BreadTalk

Din Tai Fung

SINGAPORE (Nov 17): RHB is maintaining its “buy” rating on BreadTalk Group with a target price of $1.45, while expressing confidence in the group’s ability to venture into the UK market with the Din Tai Fung chain of restaurants.

Earlier today, BreadTalk filed an announcement to the Singapore Exchange (SGX) stating it has entered into a franchise agreement to operate Din Tai Fung restaurants in the UK through a joint venture company with Fairy Rise Development.

The group expects to open its first Din Tai Fung outlet in London next year.

BreadTalk partners Din Tai Fung franchise owner in UK expansion

SINGAPORE (Nov 17): BreadTalk Group says its wholly-owned indirect subsidiary Taster Food UK (TFUK) has entered into an agreement with Fairy Rise Development, the franchise owner of the Din Tai Fung brand of restaurants, for the franchise right to operate the Din Tai Fung brand of restaurants in the UK.

BreadTalk currently operates 21 Din Tai Fung restaurants in Singapore, and three restaurants in Thailand.

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