SINGAPORE: Seafood restaurant chain Jumbo Group will close its flagship restaurant at East Coast Seafood Centre when its lease expires on Sep 30, 2026, ending nearly four decades of operations at the site.
It opened in 1987 as the group's first Jumbo Seafood outlet, the group said in a regulatory filing on Friday (May 29), adding that it will vacate its premises upon the expiry of its lease.
According to Jumbo, the landlord, the National Parks Board (NParks), is studying the redevelopment of East Coast Seafood Centre as part of longer-term plans for East Coast Park.
The outlet contributed about 14 per cent of the group's revenue in the financial year ended Sep 30, 2025.
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Jumbo said the closure is not expected to have a material impact on its earnings per share or net tangible assets per share for the financial year ending Sep 30, 2026, as the East Coast Park restaurant will continue operating until its lease expires.
However, its closure is expected to affect the group's revenue in the following financial year.
Jumbo said it plans to offset part of the impact through revenue from newer outlets, including those in Sentosa and Tai Seng, as well as its other existing operations.
The group said it will continue to focus on optimising the performance of its outlet network and overall operations.
East Coast Seafood Centre also houses rival seafood chain Long Beach's UDMC outlet.
Jumbo released its latest financial results on May 8, reporting a decline in profit for the six months ended Mar 31 to S$6.2 million (US$4.9 million), down from S$7.9 million a year earlier.
Revenue during the same period rose 7.9 per cent, or S$7.8 million, to S$105.1 million, driven by growth in both Singapore and China.
Singapore revenue increased 9.9 per cent to S$92.7 million, which Jumbo attributed to recently opened outlets.
Revenue from its outlets in China rose 11.5 per cent to S$10.7 million due to "higher dining demand", said Jumbo, with targeted marketing initiatives and customer engagement efforts in tow.
However, Jumbo noted that operating expenses had increased as a result of higher employee benefit costs, lease expenses, utilities and other operating expenses.
"These were mainly attributable to annual wage adjustments, higher headcount required to support recently opened outlets, increased business activities and the group's expanded operation premises," it said.
Executive chairman and Jumbo group CEO Ang Kiam Meng added: "Amid cost pressures and intense competition, we will remain focused on strengthening productivity, sharpening our offerings and building a more efficient platform for sustainable growth."
According to Jumbo's website, the group operates seven Jumbo Seafood outlets in Singapore, three in Shanghai, two in Bangkok, and one each in Beijing, Fuzhou, Xiamen, Nanjing, Wuhan, Sanya on China's Hainan Island, Seoul and Phnom Penh.
Jumbo is renowned for its Singapore chilli crab, while its other signature dishes include black pepper crab, cereal prawns, salted egg yolk prawns and crispy baby squid.
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It opened in 1987 as the group's first Jumbo Seafood outlet, the group said in a regulatory filing on Friday (May 29), adding that it will vacate its premises upon the expiry of its lease.
According to Jumbo, the landlord, the National Parks Board (NParks), is studying the redevelopment of East Coast Seafood Centre as part of longer-term plans for East Coast Park.
The outlet contributed about 14 per cent of the group's revenue in the financial year ended Sep 30, 2025.
CNA Games
Show More Show Less
Jumbo said the closure is not expected to have a material impact on its earnings per share or net tangible assets per share for the financial year ending Sep 30, 2026, as the East Coast Park restaurant will continue operating until its lease expires.
However, its closure is expected to affect the group's revenue in the following financial year.
Jumbo said it plans to offset part of the impact through revenue from newer outlets, including those in Sentosa and Tai Seng, as well as its other existing operations.
The group said it will continue to focus on optimising the performance of its outlet network and overall operations.
East Coast Seafood Centre also houses rival seafood chain Long Beach's UDMC outlet.
JUMBO'S LATEST FINANCIALS
Jumbo released its latest financial results on May 8, reporting a decline in profit for the six months ended Mar 31 to S$6.2 million (US$4.9 million), down from S$7.9 million a year earlier.
Revenue during the same period rose 7.9 per cent, or S$7.8 million, to S$105.1 million, driven by growth in both Singapore and China.
Singapore revenue increased 9.9 per cent to S$92.7 million, which Jumbo attributed to recently opened outlets.
Revenue from its outlets in China rose 11.5 per cent to S$10.7 million due to "higher dining demand", said Jumbo, with targeted marketing initiatives and customer engagement efforts in tow.
However, Jumbo noted that operating expenses had increased as a result of higher employee benefit costs, lease expenses, utilities and other operating expenses.
"These were mainly attributable to annual wage adjustments, higher headcount required to support recently opened outlets, increased business activities and the group's expanded operation premises," it said.
Executive chairman and Jumbo group CEO Ang Kiam Meng added: "Amid cost pressures and intense competition, we will remain focused on strengthening productivity, sharpening our offerings and building a more efficient platform for sustainable growth."
According to Jumbo's website, the group operates seven Jumbo Seafood outlets in Singapore, three in Shanghai, two in Bangkok, and one each in Beijing, Fuzhou, Xiamen, Nanjing, Wuhan, Sanya on China's Hainan Island, Seoul and Phnom Penh.
Jumbo is renowned for its Singapore chilli crab, while its other signature dishes include black pepper crab, cereal prawns, salted egg yolk prawns and crispy baby squid.
Continue reading...