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Profit warnings issued by Tung Lok and Japan Foods
The Straits Times
|October 28, 2024
Restaurant operators expect net losses in first half-year amid tough economic climate
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Catalist-listed restaurant groups Tung Lok Restaurants and Japan Foods Holding (JFH) separately issued profit warnings on Oct 25, underscoring the challenges that restaurant operators are facing.
The food businesses warned that they expect to incur net losses for the half-year ended Sept 30, 2024, with both noting the challenging economic environment. They did not comment on the extent of the losses.
Tung Lok had registered a net profit in the year-ago period, as well as the preceding six-month period ended March 31, 2024, which closed its previous financial year.
This story is from the October 28, 2024 edition of The Straits Times.
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