- Food Empire's 3Q24 revenue of S$118.9m rose 11.4% y-o-y due to higher revenue across all regions, which is encouraging and in line with our estimates. However, margins may weaken this year, which may hit FY24E profitability.
Vietnam – Star performer
- - Read this at SGinvestors.io -
- In 3Q24, Vietnam’s strong performance continued to reflect the success of Food Empire’s intense marketing efforts across all channels, including more brand-sponsored giveaways with purchases, which led to robust sales and increased brand awareness.
- Food Empire also strengthened its sales force in Vietnam and made its products available in more locations, increasing accessibility for consumers.
Further diversification of revenue
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Better wait for headwinds to clear
- Read more at SGinvestors.io.
