Kimly Limited

More
11 May 2020 18:42 #25334 by josephyeo
Replied by josephyeo on topic Kimly Limited
Despite Covid 19, Kimly reports improvement in profits:

Kimly: Financial Statements and Related Announcement :: Half Yearly Results

Kimly: Net Profit Grows 5.3% To S$10.5 Million In 1HFY2020.

Please Log in or Create an account to join the conversation.

More
11 May 2020 20:57 #25335 by walterlim
Replied by walterlim on topic Kimly Limited
I do not think it is accurate to say the profits improved amid Covid as the results were reported for earnings until end Mar. The lockdown began only in April and extended to 1st June and this will show adverse impact in the second half of their financial performance

Please Log in or Create an account to join the conversation.

More
11 May 2020 23:57 #25336 by josephyeo
Replied by josephyeo on topic Kimly Limited
A quote from the management on 1st half result. See below:

The COVID-19 global pandemic has seriously and adversely impacted economic growth prospects in Singapore. The Group’s coffeeshops, canteens and foodcourts remain in operation but only for takeaway and delivery services during the period of the Circuit Breaker from 7 April 2020 to 1 June 2020. However, lesser footfall could be seen at these places during the circuit breaker. In line with the further tightening of circuit breaker measures recently,the Group has suspended operations at its six Rive Gauche outlets and Cake Central Kitchen facility but the Group does not expect the suspension to have any material impact on the Group's revenue.

Please Log in or Create an account to join the conversation.

More
03 Jun 2020 19:20 - 03 Jun 2020 19:22 #25360 by josephyeo
Replied by josephyeo on topic Kimly Limited
Asset Acquisitions and Disposals::COMPLETION OF ACQUISITION OF SIX FOOD OUTLET PROPERTIES
Last edit: 03 Jun 2020 19:22 by josephyeo.

Please Log in or Create an account to join the conversation.

More
03 Jun 2020 19:27 #25361 by josephyeo
Replied by josephyeo on topic Kimly Limited
Kimly completes acquisitions of six food outlet properties for S$35.5 million
 The Group has increased its number of food outlets and food stalls from 64 to 79 and from 121 to 137 respectively since IPO  Consumers’ preference post COVID-19 for more economical food options in coffeeshops and increase in demand for online food deliveries will benefit the Group  In line with the Group’s strategy to pursue long-term direct ownership in properties where the Group operates and manages food outlets, so as to enhance long term shareholder value

SINGAPORE, 3 June 2020 – SGX Catalist-listed Kimly Limited (“金味有限公司”) (“Kimly” or the “Company” and together with its subsidiaries, the “Group”) is pleased to announce that it has completed the acquisitions of six food outlets first announced on 21 February 2020 for S$35.5 million, comprising 2 coffeeshops, 3 industrial canteen units and a restaurant unit.
Completion of the acquisitions of the remaining 2 coffeeshops located at Block 380 Clementi Avenue 5 and Block 347 Ang Mo Kio Avenue 3 for a total consideration of S$20.315 million will only take place at a later date once the requisite approvals and/or permissions have been obtained from the HDB, which have been delayed due to COVID-19 disruption.

Part of the total consideration of S$35.5 million has been satisfied through issuance of 22 million new shares at the issue price of S$0.25 per share, representing a substantial premium of close to 15.9% to the volume weighted average price of S$0.2102 for the full market day on 2 June 2020.

Most of these acquired properties will progressively undergo asset enhancement initiatives (“AEI”) such as layout improvements, increase of seating capacities, introducing new and exciting food concepts, aimed at retaining current food stall operators, attracting new food stall tenants as well as better serving our customers. With the completion, the Group’s total number of food outlets will increase from 73 to 79, complemented by an additional 4 drink stalls and 3 food stalls.

2
IPO Pre-Completion Post-Completion Change Food outlets 64 73 79 23.4% Food stalls 121 134 137 13.2%

The Group has been extending its network of food outlets in strategic locations. Since IPO, the Group has increased its number of food outlets and food stalls by 23.4% and 13.2% respectively.

Besides revenue contribution from managing the food outlets and operating the Group’s selfoperated food stalls, being the Mixed Vegetable Rice, Dim Sum and Drinks stalls, the Group will also be able to create additional multiple revenue streams by operating more food stalls at these newly acquired food outlets. The newly acquired food outlets will also increase the Group’s outreach in both online and offline channels, thus further expanding the Group’s reach in strategic locations and areas where the Group does not have a presence.

The Directors of the Group added, “We continue to look for opportunities to acquire and operate more strategically-located food outlets with the view of enhancing long-term shareholder value and the Group’s profitability. Moving ahead, we remain committed to our strategy to pursue long-term direct ownership in properties where the Group operates and manages food outlets to further extend our presence across the heartlands of Singapore.”

Source: Department of Statistics Singapore1
Significantly, the outbreak of COVID-19 has changed the landscape of the food and beverage
1 Department of Statistics Singapore, Food & Beverage Services Index, (2017 = 100), In Chained Volume Terms, (SSIC 2015 Version 2018), Monthly www.singstat.gov.sg/find-data/search-by-...services/latest-data
-80.0 -60.0 -40.0 -20.0 0.0 20.0 40.0
F&B Services Index (%)

Fast Food Outlets Cafes, Food Courts & Other Eating Places Food Caterers Restaurants Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 2019 2020
3
industry where people are generally more cost-conscious arising from the negative economic impact. According to the Department of Statistics of Singapore, turnover of restaurants fell 30.1% in March 2020 year-on-year (“yoy”) while the sales of cafes, food courts and other eating places in comparison dropped 14.5% yoy during the same period2. Online food and beverages sales made up of about 15.6% of the total sales value of food and beverages sales in March 2020, representing a rise of 7.5 basis points as compared to March 20193. The Group could benefit as consumers continue to prefer more economical food options in coffeeshops and also opt for more online food deliveries.

Please Log in or Create an account to join the conversation.

More
04 Jun 2020 19:05 #25364 by josephyeo
Replied by josephyeo on topic Kimly Limited
A bit of interest today w 1.7 mil shares traded. Closed at 22.5 cents.

Below are some basic datas:

1. Trailing p/e - 12.5
2. Dividend yield - 6.1%
3. Debt - 5.9 mil
4. cash - 75.0 mil
5. 1st half profit - 10.5 mil up 5.3% against last year same time

Management comment:
Barring any unforeseen circumstances, the Group expects to continue to grow its business and remain profitable for FY2020.

Please Log in or Create an account to join the conversation.

Share Prices

Counter NameLastChange
AEM Holdings3.070-0.140
AusGroup0.025-0.001
Avi-Tech Electronics0.420-0.010
Best World Int.1.360-
CEI0.845-
China Sunsine0.350-
CNMC GoldMine0.255-
CSE Global0.455-
Food Empire0.530-
Golden Energy0.165-0.003
GSS Energy0.062-0.002
ISDN Holdings0.205-
ISOTeam0.147-0.007
IX Biopharma0.3150.065
JB Foods0.590-
KSH Holdings0.325-0.015
Medtecs Intl0.635-0.045
Moya Asia0.0610.001
Nordic Group0.210-
Oxley Holdings0.2400.005
Procurri0.290-
REX International0.169-0.004
Riverstone3.100-0.220
Roxy-Pacific0.335-
Sing Holdings0.365-
SingMedical0.2600.005
Straco Corp.0.5100.030
Sunningdale Tech1.030-
Sunpower Group0.450-0.015
The Trendlines0.106-0.001
Tiong Seng0.165-
Uni-Asia Group0.530-
Yangzijiang Shipbldg0.935-0.005

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 816 guests and one member online

  • wealthbuilder