Food Empire - CGS-CIMB Research 2023-10-03: Diversification To Drive Growth

Food Empire - Diversification To Drive Growth

Food Empire (SGX:F03) | SGinvestors.ioFood Empire (SGX:F03)
  • We initiate coverage on Food Empire (SGX:F03), a branded food and beverage (F&B) company that manufactures and sells 3-in-1 instant coffee mix and food ingredients (coffee, non-dairy creamer and potato snacks). Food Empire has successfully navigated the Russia, Ukraine, and the Commonwealth of Independent States (CIS) where it has significant presence.
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  • Food Empire has been growing its business in Vietnam and has expanded its coffee as well as non-dairy creamer food ingredients manufacturing business.

Growth drivers: Vietnam & food ingredients business

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  • Management plans to lift its market share with new products.
  • The food ingredients business is another segment that Food Empire is focused on growing, with capacity expansion being added to its non-dairy creamer manufacturing operations (scheduled to commence production by end-4Q23F) (source:2022 annual report).

Sharing excess cash with minorities

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Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

William TNG CFA CGS-CIMB Research | ONG Khang Chuen CFA CGS-CIMB Research | 2023-10-03

Read also CGS-CIMB's most recent report:
2023-11-08 Food Empire - On Track For Record Net Profit.

Price targets by 4 other brokers at Food Empire Target Prices.

Listing of research reports at Food Empire Analyst Reports.

Relevant links:
Food Empire Share Price History,
Food Empire Announcements,
Food Empire Dividends & Corporate Actions,
Food Empire News Articles


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