Japan Foods - RHB Invest 2024-05-29: Hoping For A Better FY25

• Japan Foods (SGX:5OI)’s FY24 (Apr 2023 to Mar 2024) PATMI was well below our forecast, amidst higher-than-estimated operating costs. Its halal-concept restaurants have seen strong growth in outlet count and revenue.
• - Read this at SGinvestors.io -
• We cut FY25-26 earnings estimates for Japan Foods by 9– 11%, as we expect cost pressures to be sustained.

2HFY24 saw a recurring net loss.

• Based on our estimate, Japan Foods reported a recurring loss of S$1.2m in 2HFY24. This led to negative full-year recurring earnings, i.e. a loss of S$0.3m vs a profit of S$4m in FY23.
• - Read this at SGinvestors.io -

More cautious on adding new outlets.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2024-02-22 Japan Foods - 9MFY24 Numbers Remain Weak; NEUTRAL.

Price targets by other brokers at Japan Foods Target Prices.

Listing of research reports at Japan Foods Analyst Reports.

Relevant links:
Japan Foods Share Price History,
Japan Foods Announcements,
Japan Foods Dividend Payout Dates & Corporate Actions,
Japan Foods News