Despite seeing higher revenue in its 3QFY2021, F&B company Food Empire has reported a sharply lower profit after tax of just US$3.09 million ($4.16 million), compared to US$6.25 million in the same period last year. This is despite revenue rising 8.8% from US$70.29 million to US$76.44 million, m...

RECORD high ocean freight rates and higher commodity costs have eaten into the profits of instant food and beverage manufacturer Food Empire, despite registering higher revenue for the third quarter ended September.

Risks from a resurgence in Covid-19 cases and a possible tightening of measures both locally and abroad has not derailed RHB Group Research’s optimism on Singapore’s equity market. “For 4Q2021, market outlook will continue to depend on how well stocks and sectors can con- tend with the current...

From left Chiew, Ho and Lim, at the virtual Media Appreciation Night organised by SGX on Oct 20. All three picked up a win each The Edge Singapore won three out of the five awards up for grabs at this year’s SGX Orb Awards 2021, held by the Singapore Exchange to recognise the role of the financial...

RHB Group Research analyst Jarick Seet has maintained “overweight” on the small and mid-cap sectors in Singapore. Within the sector, Seet has identified his top picks as Food Empire, HRnetGroup, Marco Polo Marine and Frencken. On Food Empire, Seet deems the current rising costs as just “tempor...

ST Engineering Price target: CGS-CIMB “add” $4.54 DBS Group Research “buy” $4.55 RHB Group Research “buy” $4.85 Citigroup “sell” $3.68 CLSA Underperform $3.78 ST Engineering’s largest acquisition ever draws mixed calls Analysts are mostly positive on ST Engineering’s prospects a...

RHB Group Research analyst Jarick Seet has kept “buy” on Food Empire with the same target price of $1.23. In his report dated Oct 5, Seet sees the company’s share buybacks as a “strong vote of confidence” from its management. On Sept 28, 29 and 30, Food Empire’s management purchased a ...

Luxury watch retailer Cortina Holdings has emerged as the overall winner for the companies in the F&B and retailers sector of this year’s Club. With a compounded annual growth rate of 38.5% of its share price over the three financial years taken into consideration for this year’s awards, C...

UOB Kay Hian analysts John Cheong and Clement Ho have kept “buy” on Food Empire Holdings with an unchanged target price of $1.30 in a Sept 2 report. The estimate comes as the company reported net profit of US$11.5 million ($15.2 million) in the 1HFY2021 ended June on Aug 13. The figure stood bel...

RHB Group Research analyst Jarick Seet has kept “buy” on Food Empire with a lower target price of $1.23 from $1.27 as he rolls his price-to-earnings (P/E) to 15 times FY2022. This, he says, is to reflect a more accurate PATMI on a normalised basis. He has also lowered his PATMI estimates for the...