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Neo Group 1H continues to show Growth
Neo Group Limited announced its 1H results. 1H Revenue was up 21% year-on-year to $28.0 million while 1H PAT was down 9% to $2.5 million. Neo Group has been busy over the last few months in expanding its number of food brands. New brands include Best Catering, issho izakaya and NANAMI UDON. It has also doubled its food production capacity after its expansion of its central kitchen. With the increased space, Neo Group has invested in new and more advanced machines. It has also invested in delivery vehicles to boost its logistics team. Going forward, Neo Group is committed to growing both its food catering and food retail businesses.
GET TO THE POINT : Revenue continues to grow but PAT is down slightly. If this has been because of investments made to grow the food brands and its logistics infrastructure, then these investments should bear fruit in the future. We would also be able to see the increase in profitability down the road.
(Picture from Neo Group Limited)
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