On May 12, the food and beverage (F&B) group reported earnings of $7.9 million for the six-month period, reversing from its loss of $4.5 million in the corresponding period the year before. The figure surpassed Yeo’s expectations, forming 116% of his FY2023 forecast. It also came above the consensus estimates at 93% of its full-year forecast.
SAC Capital analyst Yeo Peng Joon has kept his “buy” call on Jumbo Group (SGX:42R
) with a higher target price of 43 cents from 41 cents previously.
Yeo’s report on June 1 comes after Jumbo's financial results for the 1HFY2023 ended March 31.
