New Halal Segment Helps Japan Foods Revenue Growth
This reversed its net loss of S$1.6 million recorded in the equivalent period a year ago due to a significant increase in revenue.
The Catalist-listed restaurant chain operator on Wednesday (Nov 9) announced a 79 per cent year-on-year growth in revenue to S$38 million from S$21.2 million. Its topline was driven largely by relaxed COVID-19 dining measures and a net revenue growth of S$6.4 million in its new segment of halal eateries.
Halal foods are lawful and permitted to be eaten by those observing Islamic teachings. Muslims are not allowed to consume foods or beverages that are Haram, or forbidden.
Japan Foods’ four flagship brands also saw net revenue increases for the period, with Ajisen Ramen recording the largest at S$3.3 million. Menya Musashi, Konjiki Hototogisu, and Osaka Ohsho posted net increases of S$0.9 million, S$1.6 million, and S$1.1 million respectively.
Restaurants operating under other brands booked a S$3.8 million net increase in revenue.
Shares of Japan Foods closed up 1.2 percent or S$0.005 at S$0.42 on Tuesday.
Source: businesstimes.com.sg
