Thursday, November 29, 2012
Food Empire
Food Empire: official opens its new manufacturing facility in Ukraine, located in Zolotonosha, in the Cherkasy region, occypying 5.4 ha.
Food Empire has invested an initial amt of US$11.4m in the facility. Pdtn will be sold in the Ukrainian mkt as well as exported to neighboring countries in Easter Europe.
Food Empire has been active in the Ukraine mkt for more than 15 yrs and its brand, MacCoffee and Petrovskya Sloboda have a a strong following from local consumers.
Chariman Tan Wang Cheow says Ukraine is the group’s second largest mkt in terms of revenue and its pdts current command a mkt share of more than 40% of the 3-in-1 instant coffee mkt.
The stock trades at 13.1x P/E.
The counter is at $0.625, +5.9%. It earlier touched $0.635, a new multi year high.
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