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Food Empire Holdings >Buy May 12 close: S$0.67 Target price: S$0.78 UOB Kay Hian, May 12
FEH reported an increase in revenue of 23.6 per cent. Q1 2017 saw sales in Russia increase by 23 per cent from US$24.3 million in Q1 2016 to US$29.9 million in Q1 2017 as the Russian rouble appreciated against the US dollar.
Food Empire's chief executive Sudeep Nair's last acquisition of Food Empire stock was on March 1, 2017 where he bought a total of 824,200 Food Empire shares at an average price of about S$0.565.
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