Yoma Strategic Holdings (Yoma) recorded a healthy revenue growth of 11 percent to $124.2 million for FY17, underpinned by the strong performance of the group’s non-real estate businesses.
Out of the total FY17 revenue, 46.6 percent was contributed by the group’s non-real estate businesses, indicating that the group is ahead of its 2020 target to have at least half of its revenue coming from its non-real estate businesses.
Meanwhile, revenue generated from the group’s consumer business which comprises its KFC operations more than doubled to $10.9 million. This was the result of incremental revenue from new store openings as the group achieved its target of 12 stores as at 31 March 2017. Yoma is expected to open its first KFC store in Mandalay in June 2017 and is planning to increase its store count to 22 nationwide by the end of FY18.
Despite the higher revenue, net profit fell marginally by 3.5 percent to $35.9 million due to higher interest expenses due to a higher amount of borrowings and a rising interest rate environment.