Some of the master franchise and license agreements with popular brands the group currently holds include PappaRich, NeNe Chicken, Gong Cha, Hokkaido Baked Cheese Tarts and IPPUDO.
UOB Kay Hian is initiating a “buy” recommendation on ST Group Food Industries with a target price of 14 cents, as lead analyst Clement Ho likes the group’s portfolio of F&B brands.
In an Oct 7 report, Ho says, “ST Group’s exclusive franchise rights to popular F&B brands has enabled it to rapidly scale up to 121 outlets – across Australia, New Zealand, UK and Malaysia – while maintaining stable net margins at more than 7% (prior to the Covid- 19 impact).”
