Jumbo Group Ltd - Maybank Kim Eng 2016-05-05: Checking in on China crabs
JUMBO GROUP LIMITED 42R.SI Jumbo Group Ltd (JUMBO SP) - Checking in on China crabs
BUY maintained post-IFC outlet visit
- We visited Jumbo’s newest restaurant at the IFC Mall in Shanghai last week and came away encouraged by what we observed.
- We hold on to our optimism that the IFC outlet could help China operations to turn around to profitability soon, perhaps as soon as 2Q FY9/16 which will be reported next week.
- We expect a strong 15-16% growth in the top and bottomline to SGD38m and SGD5.5m respectively.
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