"Our forecasts are now in line with consensus, having factored in phase two of the 'circuit breaker' recovery."
Longer-term drivers include the setting up of the integrated facility and overseas growth from its two food courts in Macau. Analyst Ngoh Yi Sin cited the food and beverage player's"resilient business, strong cash flow generation, superior net margins and return on equity".Koufu is expected to remain profitable for FY20, thanks to S$10 million in budget support and some three months’ rental relief from landlords, Ms Ngoh wrote.
She also pointed out the stock's "decent" dividend yield of 2.2-3.9 per cent for FY20-22, with upside potential from the sale of its two central kitchens.
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