SINGAPORE: Singaporeans love food, and the food and beverage sector offers tasty investment opportunities.
For the first half of fiscal 2024 ending Mar 31, 2024, the group’s revenue rose 13% year-on-year to S$97.1 million. Gross profit climbed 13.3% to S$64.4 million, while net profit increased 11.9% to S$8.9 million. Although free cash flow was S$10.5 million, it was lower than the S$14.6 million from the previous year.Despite challenges in China, the group continues to expand in Singapore, reopening Jumbo Seafood at The Riverwalk and launching a new Ng Ah Sio outlet at The Central.Old Chang Kee is another beloved local brand known for its curry puffs and spring rolls sold through kiosks and retail outlets.
The company also has a strong balance sheet with S$44.1 million in cash and S$2.9 million in debt. The business generated S$25 million in free cash flow, up from S$21 million in FY2023.3. Food Empire Holdings