Food Empire - RHB Research 2025-11-17: Earnings Momentum On Track; Keep BUY

• We stay positive on Food Empire (SGX:F03) for its long-term growth prospects, driven by visible growth from its capacity expansion plan. 3Q25 has delivered record quarterly revenue through brand investment, and marketing & promotions.
• - Read this at SGinvestors.io -

3Q25 revenue in line.

• Food Empire announced 3Q25 revenue of US$153m (+28% y-o-y), a record quarter. There was strong double-digit growth across all major segments, supported by Russia and Ukraine, Kazakhstan, and Commonwealth of Independent States (CIS) markets.
  • - Read this at SGinvestors.io -
  • South-East Asia segment grew 13% y-o-y to US$37m, driven by the Vietnam market, which continued its penetration via customer acquisitions, brand investment, and more consumer promotions.
  • South Asia segment grew 12% y-o-y to US$18m, with both freeze-and spray-dried soluble coffee manufacturing operating at optimal capacity and delivering sales volume increase.
• We maintain our earnings forecasts since 3Q25’s reported revenue is in line with our estimates.

Expect more revenue growth from manufacturing capacity expansion.

• 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:
2025-09-25 Food Empire - Building War Chest For Growth; Maintain BUY.

Price targets by 2 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 Dividend Payout Dates & Corporate Actions,
Food Empire News