“Since the first halal concept restaurant opened in November 2020, it has rapidly expanded this segment to 29 halal concept restaurants under various brands as of June 30,” the analyst writes.
RHB Bank Singapore’s Shekhar Jaiswal has kept his “buy” call on Japan Foods (SGX:5OI
) as he expects the company to register strong sales growth thanks to the expansion of its halal restaurant brands.
In the 1QFY2024 ended June, Japan Foods reported a net addition of two restaurants largely in its halal segment, which saw “strong customer demand and growth in revenue contribution”.
