- 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.
Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2024-05-29
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 Dividends & Corporate Actions,
Japan Foods News Articles
