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JUMBO Group FY16 profit jumps 46.3%
NET profit at JUMBO Group Limited, a restaurant chain known for its signature crab dish, jumped 46.3 per cent to S$15.5 million for the fiscal year ended Sept 30.
Besides riding the growth in revenue, the improvement in profit also came on the back of co-operative ventures and a former partially owned subsidiary becoming fully owned after the restructuring exercise that was undertaken during the initial public offering.
Revenue grew 11.4 per cent to S$136.8 million during the fiscal year, thanks to revenue contributions from the two new JUMBO Seafood outlets in Shanghai as well as an overall increase in revenue from the rest of the group's restaurants.
The board of directors has proposed a tax-exempt (one-tier) final cash dividend of one cent and a tax-exempt (one-tier) special dividend of 0.7 cents, representing a total dividend payout of 1.7 cents per share for fiscal 2016.
Last month, the company expanded its JUMBO Seafood (Riverside) outlet and opened its fifth NG AH SIO Bak Kut Teh outlet at Resorts World Sentosa.
"The functional dining eco-system featured in the latest NG AH SIO Bak Kut Teh outlet marks a significant step in the group's continued quest for innovation," said group executive chairman and CEO Ang Kiam Meng.
The self-ordering system generates significant operational cost savings for the group, enabling the group to lower its reliance on manpower by 30 per cent.