Jumbo's full year net profit up 17.9% to $15.7m

Thanks to the group's news seafood outlets.

Singapore's multi-dining concept food and beverage group Jumbo has reported healthy earnings for its full year ending in September 30, with net profit climbing up 17.9% to $15.7m from $13.3m last year.

This came as the overall group revenue increased 11.4% from $122.8m to $136.8m due to revenue contributions from the Jumbo's new seafood outlets in Shaghai, China as well as an overal increase in revenue from the rest of the group's restaurants.

In line with the revenue increase, cost of sales, which comprised raw and consumables used, ticks 10.5% up to $50.3m.

Meanwhile, employeee benefits expense spiked by 12.9% to $39.2m. The group said this there was an overall increase in headcount and remuneration for its operations in Singapore.

Jumbo executive chairperson and CEO Ang Kiam Meng said the group managed to reflect more yields despite the ongoing challenges of the industry.

"We are highly encouraged by the continuing broadbased growth we are experiencing across our restaurant operations. This is a clear testament to JUMBO’s brand appeal among our customers. We look forward to further improving our financial performance by streamlining our operations to raise productivity and efficiency, while lowering operating costs in order to mitigate industry challenges," he said.