With better prospect of improved profitability in Singapore, and store restructuring, higher franchise revenue to drive higher operating earnings.
Link to DBS report: https://www.dbs.com.sg/treasures/aics/templatedata/article/equity/data/en/DBSV/012014/JUMBO_SP.xml
Stock consequently also saw a spike in volume, hopefully the interest is sustainable as price continues to move up. In our opinion, we think earnings and negative sentiments for the stock has bottomed, and Jumbo is one of the rare "exportable" Singapore brands that has a strong bankable franchise with good cashflow and a solid balance sheet
