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An update from ST Group Food Industries Holdings Limited ( (SG:DRX) ) is now available.
ST Group Food Industries Holdings Limited has announced the creditors’ voluntary liquidation of its indirect subsidiary, PPR Ryde, which operates a ‘PappaRich’ outlet in Australia. The decision follows a comprehensive review revealing that PPR Ryde is financially unsustainable due to persistent operating losses, high costs, and weak consumer demand. The liquidation is expected to have a positive long-term impact on the Group’s consolidated net tangible assets and earnings per share, despite some immediate losses.
More about ST Group Food Industries Holdings Limited
ST Group Food Industries Holdings Limited operates in the food and beverage industry, with a focus on managing outlets under the ‘PappaRich’ brand in Australia. The company is involved in the operation of food and beverage outlets, and its market focus includes providing dining experiences under various brand names.
Average Trading Volume: 53,716
Technical Sentiment Signal: Hold
Current Market Cap: S$35.1M
For an in-depth examination of DRX stock, go to TipRanks’ Overview page.