Jumbo’s FY16 earnings rise 46.3% to $15.5 mil

SINGAPORE (Nov 25): Jumbo, the F&B group, announced FY16 earnings rose 46.3% to $15.5 million from $10.6 million a year ago due to higher gross profit and share of results of associates.

Revenue increased 11.4% to $136.8 million due mainly to revenue contributions from the group’s two new Jumbo Seafood outlets in Shanghai, China, as well as an overall increase in revenue from the rest of the group’s restaurants.

Cost of sales which comprised raw materials and consumables used increased by 10.5% to $50.3 million, in line with the increase in revenue.

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