“The flat performance was partly attributable to the loss of a corporate customer, excluding this, non-outlet sales would have shown modest positive growth. Although the company has been introducing new food initiatives at its outlets, it hasn’t been spared from the broader F&B slowdown,” states Aw.
Evolve Capital analyst, Ethan Aw, in his Nov 28 un-rated report, highlights Old Chang Kee’s needs for fresh growth catalysts in light of the broader slowdown in the F&B sector.
In the recent 1HFY2026 earnings, Old Chang Kee’s revenue growth was flat at only 0.2% y-o-y, with both outlet and non-outlet sales remaining stable.
