Japan Foods Q3 profit grows 8.4% to S$15.2m
The company currently has 58 restaurants in the Lion City.
Japan Foods posted an 8.4% profit increase year-on-year (YoY) to S$15.2m (US$ 11.2m) for the three month period ending September 2019.
The restaurant chain also reported a top line growth of 8.3% YoY to S$18m (US$13.2)for July-September.
“Our performance is in line with our expectations with healthy growth in revenue and profit from operations reflecting our enlarged portfolio of 58 restaurants in Singapore as of 30 September 2019 compared to 53 as of 30 September 2018,” Japan Foods CEO Takahashi Kenichi said in a statement.
Meanwhile, for the six-month period ending September 2019, net profit slowed down by 4.6% YoY to S$1.5m (US$1.1m) which the group attributed to increased overall expenses for expansion and share of losses from associated companies.
“Japan Foods expects the operating environment to remain challenging in the next 12 months due to intense competition, tight labour supply, rising business costs and uncertain economic outlook,” the group added.
