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Company is converting itself into "Old Chang Kee"-like. But there is plenty of competition in this space for the customer's mindshare.
In the last year, the common theme among F&B companies is that their revenue growth wasn't able to keep up with labor/rental costs but the savior came in lower COGS. With SGD not expected to be that strong in the future, is there a good chance that F&B will start wavering again?
Condensed interim consolidated statement of profit or loss and other comprehensive income
The Group's revenue increased by 3.0%, or approximately S$5.2 million in FY2024 as compared to FY2023, primarily due to the increase in revenue contribution from QSR, partially offset by the decrease in revenue from FSR.
Revenue from QSR increased by 13.9% from S$84.1 million in FY2023 to S$95.7 million in FY2024 mainly due to opening of 6 new outlets in 1H FY2024 and a further of 6 new outlets in 2H FY2024.
Revenue from FSR decreased by 7.2% from S$90.0 million in FY2023 to S$83.5 million in FY2024 mainly due to closure of 1 outlet in 1H FY2024 for conversion into QSR concepts in line with shift to labour lean concepts and interim closure of 2 outlets for revamping in FY2024.
https://links.sgx.com/FileOpen/RES-FY202...eID=816445
In the last year, the common theme among F&B companies is that their revenue growth wasn't able to keep up with labor/rental costs but the savior came in lower COGS. With SGD not expected to be that strong in the future, is there a good chance that F&B will start wavering again?
Condensed interim consolidated statement of profit or loss and other comprehensive income
The Group's revenue increased by 3.0%, or approximately S$5.2 million in FY2024 as compared to FY2023, primarily due to the increase in revenue contribution from QSR, partially offset by the decrease in revenue from FSR.
Revenue from QSR increased by 13.9% from S$84.1 million in FY2023 to S$95.7 million in FY2024 mainly due to opening of 6 new outlets in 1H FY2024 and a further of 6 new outlets in 2H FY2024.
Revenue from FSR decreased by 7.2% from S$90.0 million in FY2023 to S$83.5 million in FY2024 mainly due to closure of 1 outlet in 1H FY2024 for conversion into QSR concepts in line with shift to labour lean concepts and interim closure of 2 outlets for revamping in FY2024.
https://links.sgx.com/FileOpen/RES-FY202...eID=816445