For example, during the year, Koufu acquired other food businesses such as Deli Asia. It is also steadily expanding in overseas markets such as the Philippines and Macau.
Foodcourt operator Koufu Group has reported revenue of $192.4 million for FY2020 ended Dec 2020, down 19% from the preceding year, as circuit breaker measures earlier in the year hurt overall sales. However, coupled with writedowns and other one-off items, the company’s earnings dropped by 64.3% y-o-y to $9.9 million.
Pang Lim, Koufu’s executive chairman and CEO believes that despite the woes this past year, the company is better positioned to capture growth ahead. “We have emerged stronger as a business by working with strategic and complementary partners to reinforce our business and revenue streams,” says Pang.
