Food Empire - Maybank Research 2026-02-27: Another Record Year

• Core NPAT of US$68.6m was in line with our estimates and another record year for Food Empire (SGX:F03), mainly due to revenue growth of 21.1% y-o-y to US$576.9m. A record Food Empire's dividends of S$0.12 per share was declared for FY25.
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Strong growth in Russia and Central Asia

• Revenue from Russia and Central Asia surged 34.8% and 25.6% y-o-y, driven by higher sales volume and price gains, supported by improved in-store execution and broader product range representation along with a 10% appreciation of the Russian Ruble against the US$.
• Central Asia growth is partially aided by the full-year consolidation of Tea House LLP, which became a subsidiary of the group in May 2024.

45% increase in capacity in Vietnam by 2027

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FY26E to hit new heights

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

Previous report by Maybank:
2025-11-13 Food Empire - Strong Growth In Russia, Ukraine, Kazakhstan, CIS.

Price targets by 3 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