Restaurant chain Jumbo Seafood continues to struggle in China

The exterior of a Jumbo Seafood location in Shanghai, China
A Jumbo Seafood location in Shanghai, China | Photo courtesy of Robert Way/Shutterstock
2 Min

The Chinese locations of Singapore-based seafood restaurant chain Jumbo Seafood have continued to struggle financially, leading the company to shift plans for growth back to its domestic market of Southeast Asia.

According to the chain’s most recent financial results, which cover the full year ending 30 September 2024, Jumbo Seafood Group’s revenues from its mainland China operations fell by 27.6 percent year over year, dropping by SGD 7.2 million (USD 5.3 million, EUR 5.1 million) to SGD 18.9 million (USD 13.8 million, EUR 13.4 million).

Though Jumbo, which mainly caters to the more affluent sector of the consumer market, has struggled in China, the firm still reported record revenue of over SGD 190 million (USD 141 million, EUR 135 million) in the full-year period, compared to SGD 179 million (USD 132 million, EUR 127 million) reported in the same period in 2023.

“The increase was mainly due to the recovery in business, social events, and tourism from our Singapore operations,” the firm said


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