, Singapore

Top F&B picks as sector continues recover in post-2019 era

The January Singstat figures showed that there is “meaningful recovery.”

The food and beverage sector is about to recover as restaurants report increased sales supported by recreational and corporate dine-in events and increasing tourist arrivals.

Food inflation has also continued to inch up, leaving coffee shops and restaurants to raise their prices.

As a result, CGS-CIMB sees Jumbo as top stock in the food and beverage firms amidst these developments.

Jumbo has an overweight rating as it has a potential strong earnings rebound, with price increases and traffic growth contributing to it. 

Kimly, however, has a hold rating due to its outlet closures and limited price pass-throughs.

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