- Record-high top-line above expectations – Food Empire (SGX:F03) delivered another strong performance, with 3Q25 revenue surging 28% y-o-y and 11% q-o-q to a record high of US$153m. This lifted 9M25 revenue to another record US$427m (+24% y-o-y), forming 81% of our full-year forecast. This was underpinned by continued brand investments, successful pricing adjustments and strong demand across its key markets.
Strong growth across core markets.
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- Southeast Asia maintained its strong trajectory with revenue up 13% y-o-y, led by Vietnam, which contributed over 60% of segment revenue as it continued to capture market share. The South Asia segment rose 20% y-o-y, with both India plants running at optimal capacity amid higher soluble coffee sales volumes.
Capacity expansion to fuel multi-year growth.
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Enhanced balance sheet and institutional support.
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