Tough times for F&B players but mega trends buoy coffee shop group Kimly

SINGAPORE'S food scene is vibrant, with a wide array of cuisines to tempt picky taste buds. Foodies can choose from instagram-worthy F&B outlets, Michelin-starred restaurants, fancy food courts, neighbourhood coffee shops and hawker centres, among others.

But the results of some well-known F&B operators here paint a bleak picture. For the 6 months ended Sep 30, 2021, Singapore Exchange-listed Tung Lok Restaurants (2000) posted a loss attributable to shareholders of S$3.4 million. Revenue fell 10 per cent from a year ago.

The loss was in spite of S$4.3 million of other operating income that included Jobs Support Scheme grants and rent concessions from the government and landlords.