Jumbo's Q3 profit edges down 1.1%

RESTAURANT group Jumbo on Tuesday posted a 1.1 per cent dip in its net profit for the third quarter ended June 30 to S$3.37 million.

Revenue rose 6.4 per cent year on year to S$34.81 million on higher contributions from both its Singapore and China operations, while earnings per share for the quarter were flat at 0.5 Singapore cent.

"The food and beverage industry is expected to continue to be challenging, given the weak economic outlook coupled with pressure on operating costs and keen competition," said Jumbo. "Nonetheless, the group will continue to leverage its brands and talents to stay competitive, strengthen and broaden its portfolio of brands for sales and profitability."