Jumbo Seafood grows profit 17.9pc
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Restaurant group Jumbo Seafood has reported a full-year net profit of S$15.7 million (US$11 million) – up 17.9 per cent from the previous year.
Overall group revenue grew 11.4 per cent to S$136.8 million, attributed mainly to revenue contributions from its new seafood outlets in Shanghai as well as an overall increase in revenue from its other restaurants.
Jumbo Seafood executive chairperson/CEO Ang Kiam Meng says the group managed to increase yields despite the ongoing challenges of the industry.
“We look forward to further improving our financial performance by streamlining our operations to raise productivity and efficiency while lowering operating costs.”
In October, Jumbo opened its fifth Ng Ah Sio Bak Kut Teh (pork ribs soup) outlet in Singapore.
Jumbo is a multi-concept dining and F&B group with a network spanning Singapore, China and Japan. It also provides catering services, and in Singapore sells packaged sauces and spice mixes.
Questions & Answers
Q.What contributed most to Jumbo Seafood's revenue growth this year?
What contributed most to Jumbo Seafood's revenue growth this year?
The main drivers were revenue contributions from the new seafood outlets in Shanghai. There was also an overall increase in revenue from Jumbo Seafood's existing restaurants across its network.
Q.How does Jumbo Seafood plan to improve its financial performance in the future?
How does Jumbo Seafood plan to improve its financial performance in the future?
The company aims to streamline its operations to increase productivity and efficiency. They also intend to lower operating costs to further enhance their financial results.
Q.Where does Jumbo Seafood operate its restaurants and other businesses?
Where does Jumbo Seafood operate its restaurants and other businesses?
Jumbo Seafood operates a network of restaurants and F&B concepts across Singapore, China, and Japan. They also provide catering services and sell packaged sauces and spice mixes in Singapore.
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