Jumbo Group's FY15 profit falls 8% to S$10.6m

Singapore

CHILLI crab restaurant Jumbo Group said on Friday it is on target to open a third restaurant in Shanghai in January, but warned that the food and beverage (F&B) industry remains challenging.

The comments came as it reported an 8 per cent fall in full-year net profit as "other operating expenses" rose S$1.6 million due mainly to a S$1 million rise in professional fees relating to restructuring and preparation work for its initial public offering. It was listed this month.