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.