Jumbo Group eyes Asian expansion
Feb 22, 2018
Following another strong quarter, multi-dining concept company Jumbo Group says it aims to expand its brands to other major Asian cities.
“We will continue to take a calibrated approach in our expansion plans to capture the growing F&B market in major Chinese cities such as Shanghai and Beijing as well as other regional markets like Vietnam,” says group CEO/executive director Ang Kiam Meng.
Jumbo also plans to pursue franchising opportunities as well as growing its network through openings, acquisitions, JVs and strategic alliances.
For its first quarter to the end of December, Jumbo has announced a profit attributable to the owners of the company of $2.6 million, compared to $2.1 million for the corresponding period a year earlier.
Revenue increased by 5.8 per cent, or $1.8 million, to $32.7 million, mainly because of increased revenue contributions from the group’s seafood outlets in Shanghai.
Gross profit increased by 8.1 per cent, or $1.6 million, to $21 million. Gross profit margin was 64.2 per cent, up year on year from 62.9 per cent.
Source: Inside Retail Asia