FoodInnovators KYB
Financials
Annual Report 2026
Explore the statements
9 tablesConsolidated Statement of Profit or Loss and Other Comprehensive Income
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 28 February 2026 | 2025Group, FY ended 28 February 2025 | Source |
|---|---|---|---|
| Profit or loss | |||
| RevenueS$'000 | 46,312 | 43,136 | PDF p. 82 |
| Cost of salesS$'000 | (39,081) | (36,997) | PDF p. 82 |
| Gross profitS$'000 | 7,231 | 6,139 | PDF p. 82 |
| Other incomeS$'000 | 1,030 | 555 | PDF p. 82 |
| Administrative and distribution expensesS$'000 | (6,567) | (7,173) | PDF p. 82 |
| IPO listing expensesS$'000 | – | (2,940) | PDF p. 82 |
| Other expensesS$'000 | (455) | (44) | PDF p. 82 |
| Finance costsS$'000 | (886) | (775) | PDF p. 82 |
| Share of profit/(losses) from equity-accounted for associateS$'000 | 7 | (17) | PDF p. 82 |
| Share of profit from equity-accounted for joint venturesS$'000 | 9 | – | PDF p. 82 |
| Profit/(Loss) before income taxS$'000 | 369 | (4,255) | PDF p. 82 |
| Income tax (expense)/benefitS$'000 | (179) | 122 | PDF p. 82 |
| Profit/(Loss) for the financial yearS$'000 | 190 | (4,133) | PDF p. 82 |
| Other comprehensive (loss)/income: Items that may be reclassified subsequently to profit or loss | |||
| Exchange differences on translation of foreign subsidiariesS$'000 | (423) | 17 | PDF p. 82 |
| Other comprehensive income | |||
| Total comprehensive loss for the financial yearS$'000 | (233) | (4,116) | PDF p. 82 |
| Attributable to owners | |||
| Profit/(Loss) attributable to owners of the Company, net of taxationS$'000 | 190 | (4,133) | PDF p. 82 |
| Total comprehensive loss attributable to owners of the CompanyS$'000 | (233) | (4,116) | PDF p. 82 |
| Earnings/(Losses) per share attributable to owners of the Company (cents) | |||
| Basic earnings/(losses) per sharecents per share | 0.17 | (3.98) | PDF p. 82 |
| Diluted earnings/(losses) per sharecents per share | 0.15 | (3.98) | PDF p. 82 |
Definitions & sources
Original report: PDF p. 82 ↗
Only a consolidated (Group) statement is presented; no separate Company statement of profit or loss is printed.
Associate/joint venture share rows: the printed Note column is blank for these rows, so the first number is read as the 2026 value (layout ambiguity from text extraction).
Statements of Financial Position (assets and equity)
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipmentS$'000 | 5,413 | 4,265 | – | – | PDF p. 83 |
| Right-of-use assetsS$'000 | 29,307 | 34,660 | – | – | PDF p. 83 |
| Intangible assetsS$'000 | 293 | 355 | – | – | PDF p. 83 |
| GoodwillS$'000 | 1,152 | 1,262 | – | – | PDF p. 83 |
| Investment in subsidiariesS$'000 | – | – | 19,581 | 16,186 | PDF p. 83 |
| Investment in associateS$'000 | 74 | 75 | – | – | PDF p. 83 |
| Investment in joint venturesS$'000 | 316 | – | – | – | PDF p. 83 |
| Other investmentS$'000 | 52 | 135 | – | – | PDF p. 83 |
| Trade and other receivablesS$'000 | 11,756 | 13,617 | 360 | 96 | PDF p. 83 |
| Deferred tax assetsS$'000 | 342 | 419 | – | – | PDF p. 83 |
| Total non-current assetsS$'000 | 48,705 | 54,788 | 19,941 | 16,282 | PDF p. 83 |
| Current assets | |||||
| Trade and other receivablesS$'000 | 5,207 | 5,204 | 488 | 398 | PDF p. 83 |
| InventoriesS$'000 | 507 | 603 | – | – | PDF p. 83 |
| Income tax receivableS$'000 | 47 | 169 | – | – | PDF p. 83 |
| Cash and cash equivalentsS$'000 | 1,601 | 2,479 | 49 | 553 | PDF p. 83 |
| Total current assetsS$'000 | 7,362 | 8,455 | 537 | 951 | PDF p. 83 |
| Assets | |||||
| TOTAL ASSETSS$'000 | 56,067 | 63,243 | 20,478 | 17,233 | PDF p. 83 |
| Equity - Capital and reserves | |||||
| Share capitalS$'000 | 27,423 | 27,423 | 27,423 | 27,423 | PDF p. 83 |
| Share option reserveS$'000 | 1,666 | 1,666 | 1,666 | 1,666 | PDF p. 83 |
| Merger reserveS$'000 | (15,415) | (15,415) | – | – | PDF p. 83 |
| Translation reserveS$'000 | (537) | (114) | – | – | PDF p. 83 |
| Accumulated lossesS$'000 | (10,716) | (10,906) | (9,737) | (13,192) | PDF p. 83 |
| Total equityS$'000 | 2,421 | 2,654 | 19,352 | 15,897 | PDF p. 83 |
Definitions & sources
Original report: PDF p. 83 ↗
Statement continues on next page with liabilities.
Statements of Financial Position (liabilities)
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current liabilities | |||||
| Trade and other payablesS$'000 | 8,045 | 8,183 | – | 224 | PDF p. 84 |
| Lease liabilitiesS$'000 | 17,143 | 20,910 | – | – | PDF p. 84 |
| BorrowingsS$'000 | 6,996 | 7,260 | 595 | 39 | PDF p. 84 |
| Total non-current liabilitiesS$'000 | 32,184 | 36,353 | 595 | 263 | PDF p. 84 |
| Current liabilities | |||||
| Trade and other payablesS$'000 | 7,240 | 8,440 | 334 | 1,001 | PDF p. 84 |
| Lease liabilitiesS$'000 | 12,507 | 14,215 | – | – | PDF p. 84 |
| BorrowingsS$'000 | 1,715 | 1,581 | 197 | 72 | PDF p. 84 |
| Total current liabilitiesS$'000 | 21,462 | 24,236 | 531 | 1,073 | PDF p. 84 |
| Liabilities | |||||
| Total liabilitiesS$'000 | 53,646 | 60,589 | 1,126 | 1,336 | PDF p. 84 |
| TOTAL EQUITY AND LIABILITIESS$'000 | 56,067 | 63,243 | 20,478 | 17,233 | PDF p. 84 |
Definitions & sources
Original report: PDF p. 84 ↗
Consolidated Statement of Profit or Loss and Other Comprehensive Income
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 28 February 2026 | 2025Group, FY ended 28 February 2025 | Source |
|---|---|---|---|
| Profit or loss | |||
| Profit/(Loss) before income taxS$'000 | 369 | (4,255) | PDF p. 82 |
| Income tax (expense)/benefitS$'000 | (179) | 122 | PDF p. 82 |
| Profit/(Loss) for the financial yearS$'000 | 190 | (4,133) | PDF p. 82 |
| Other comprehensive (loss)/income - items that may be reclassified | |||
| Exchange differences on translation of foreign subsidiariesS$'000 | (423) | 17 | PDF p. 82 |
| Total comprehensive income | |||
| Total comprehensive loss for the financial yearS$'000 | (233) | (4,116) | PDF p. 82 |
| Attribution | |||
| Profit/(Loss) attributable to owners of the Company, net of taxationS$'000 | 190 | (4,133) | PDF p. 82 |
| Total comprehensive loss attributable to owners of the CompanyS$'000 | (233) | (4,116) | PDF p. 82 |
Definitions & sources
Original report: PDF p. 82 ↗
Wrapped labels: 'Profit/(Loss) attributable to owners of the Company, net of taxation' and 'Total comprehensive loss attributable to owners of the Company' span two lines; quotes show the line carrying the values. No non-controlling interests are shown. No separate Company statement of comprehensive income is presented.
Consolidated Statement of Changes in Equity
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, total equity movements FY ended 28 February 2025 (Total Equity column) | 2026Group, total equity movements FY ended 28 February 2026 (Total Equity column) | Source |
|---|---|---|---|
| FY2025 movements; Share capital 3,750 | |||
| Share capital issuance (Note 22)S$'000 | 3,750 | – | PDF p. 85 |
| FY2025 movements; Share option reserve 648 | |||
| Share-based compensation expenseS$'000 | 648 | – | PDF p. 85 |
| FY2026 movements; Accumulated losses 190 | |||
| Profit for the yearS$'000 | – | 190 | PDF p. 85 |
| FY2026 other comprehensive loss; Translation reserve (423) | |||
| Exchange differences on translation of foreign operationsS$'000 | – | (423) | PDF p. 85 |
| FY2026 movements; Translation reserve (423); Accumulated losses 190 | |||
| Total comprehensive loss for the yearS$'000 | – | (233) | PDF p. 85 |
Definitions & sources
Original report: PDF p. 85 ↗
Columns: Share capital, Share option reserve, Merger reserve, Translation reserve, Accumulated losses, Total Equity (all S$'000). Only the Total Equity figure is placed in values; component amounts are in the section field. '–' in values means no row value for that period's movement, not a printed dash. No non-controlling interests. No Company statement of changes in equity is presented; the Company only has a statement of financial position.
Consolidated Statement of Cash Flows - Operating activities
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 28 February 2026 | 2025Group, FY ended 28 February 2025 | Source |
|---|---|---|---|
| Operating activities | |||
| Profit/(Loss) before income taxS$'000 | 369 | (4,255) | PDF p. 86 |
| Adjustments for | |||
| Depreciation of property, plant and equipmentS$'000 | 881 | 640 | PDF p. 86 |
| Depreciation of right-of-use assetsS$'000 | 16,119 | 16,000 | PDF p. 86 |
| Amortisation of intangible assetsS$'000 | 29 | 70 | PDF p. 86 |
| Employee share options expenseS$'000 | – | 648 | PDF p. 86 |
| Loss on disposal of property, plant and equipmentS$'000 | 3 | 13 | PDF p. 86 |
| Impairment loss on intangible assetsS$'000 | – | 88 | PDF p. 86 |
| Impairment loss on goodwillS$'000 | 68 | – | PDF p. 86 |
| Fair value loss on other investment at FVTPLS$'000 | 74 | – | PDF p. 86 |
| Property, plant and equipment written offS$'000 | – | 7 | PDF p. 86 |
| Reversal for credit losses on receivablesS$'000 | (27) | (121) | PDF p. 86 |
| Interest incomeS$'000 | (9) | (14) | PDF p. 86 |
| Interest expenseS$'000 | 886 | 775 | PDF p. 86 |
| Unrealised foreign exchange (gain)/lossS$'000 | (326) | 46 | PDF p. 86 |
| Share of (profit)/losses from equity-accounted for associateS$'000 | (7) | 17 | PDF p. 86 |
| Share of profit from equity-accounted for joint venturesS$'000 | (9) | – | PDF p. 86 |
| Fair value loss/(gain) on borrowingsS$'000 | 16 | (459) | PDF p. 86 |
| IPO listing expensesS$'000 | – | 2,940 | PDF p. 86 |
| Operating activities | |||
| Operating cash flows before movements in working capitalS$'000 | 18,067 | 16,395 | PDF p. 86 |
| Changes in working capital | |||
| InventoriesS$'000 | 96 | (210) | PDF p. 86 |
| Trade and other receivablesS$'000 | 2,122 | 2,141 | PDF p. 86 |
| Trade and other payablesS$'000 | (1,134) | 671 | PDF p. 86 |
| Operating activities | |||
| Cash generated from operationsS$'000 | 19,151 | 18,997 | PDF p. 86 |
| Income tax paidS$'000 | (38) | (1,086) | PDF p. 86 |
| Net cash generated from operating activitiesS$'000 | 19,113 | 17,911 | PDF p. 86 |
Definitions & sources
Original report: PDF p. 86 ↗
Statement continues on the next page (investing and financing). No Company cash flow statement is presented.
Consolidated Statement of Cash Flows - Investing, financing and closing cash
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 28 February 2026 | 2025Group, FY ended 28 February 2025 | Source |
|---|---|---|---|
| Investing activities | |||
| Proceeds from disposal of property, plant and equipmentS$'000 | 10 | 594 | PDF p. 87 |
| Purchase of property, plant and equipmentS$'000 | (2,323) | (2,136) | PDF p. 87 |
| Acquisition of intangible assetsS$'000 | – | (20) | PDF p. 87 |
| Interest receivedS$'000 | 9 | 14 | PDF p. 87 |
| Acquisition of investment in joint venturesS$'000 | (307) | – | PDF p. 87 |
| Purchase of other investment at FVTPLS$'000 | – | (135) | PDF p. 87 |
| Acquisition of businessS$'000 | (260) | – | PDF p. 87 |
| Net cash used in investing activitiesS$'000 | (2,871) | (1,683) | PDF p. 87 |
| Financing activities | |||
| Repayment of obligation under leasesS$'000 | (17,591) | (16,652) | PDF p. 87 |
| Repayment of borrowingsS$'000 | (1,967) | (2,678) | PDF p. 87 |
| Proceeds from borrowingsS$'000 | 2,467 | 3,550 | PDF p. 87 |
| Proceeds from share issuanceS$'000 | – | 3,750 | PDF p. 87 |
| IPO listing expenses paidS$'000 | – | (2,940) | PDF p. 87 |
| Net cash used in financing activitiesS$'000 | (17,091) | (14,970) | PDF p. 87 |
| Closing cash | |||
| Net change in cash and cash equivalentsS$'000 | (849) | 1,258 | PDF p. 87 |
| Cash and cash equivalents at beginning of the financial yearS$'000 | 2,479 | 1,247 | PDF p. 87 |
| Net effect of exchange rate changes in the balance of cash held in foreign currenciesS$'000 | (29) | (26) | PDF p. 87 |
| Cash and cash equivalents at end of financial yearS$'000 | 1,601 | 2,479 | PDF p. 87 |
Definitions & sources
Original report: PDF p. 87 ↗
The label 'Net effect of exchange rate changes in the balance of cash held in foreign currencies' wraps over two lines; the quote is the second line, which carries the values.
A reconciliation of liabilities arising from financing activities is on page 88 and was not extracted.
Note 9 Basic earnings/(loss) per share (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 28 February 2026 | 2025Group, FY ended 28 February 2025 | Source |
|---|---|---|---|
| Basic EPS | |||
| Profit/(Loss) for the financial year attributable to the owners of the CompanyS$'000 | 190 | (4,133) | PDF p. 115 |
| Weighted average number of ordinary shares outstanding'000 shares (weighted count) | 113,045 | 103,786 | PDF p. 115 |
| Basic earnings/(loss) per share (cents)cents | 0.17 | (3.98) | PDF p. 115 |
Definitions & sources
Original report: PDF p. 115 ↗
Table header: 2026 S$'000, 2025 S$'000. Share count unit per note on p.116 is '000.
Note 9 Effect of share options on weighted average number of ordinary shares
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, '000 shares | 2025Group, '000 shares | Source |
|---|---|---|---|
| Weighted average number of | |||
| Potential ordinary shares issuable under share options'000 | 16,270 | 16,270 | PDF p. 116 |
Definitions & sources
Original report: PDF p. 116 ↗
Note: p.115 shows FY2025 diluted count as 103,786* (anti-dilutive) whereas this table shows 120,056 as printed.
Where the money comes from
Segment information
By business
Analysis by business segments - revenue and results 16 lines
| Item / unit | 2026S$'000 | 2025S$'000 | Source |
|---|---|---|---|
| Segment revenue | |||
| - Restaurant leasing and sublease businessS$'000 | 19,861 | 18,262 | PDF p. 149 |
| - Food retail businessS$'000 | 26,451 | 24,874 | PDF p. 149 |
| TotalS$'000 | 46,312 | 43,136 | PDF p. 149 |
| Segment gross profit (1) | |||
| - Restaurant leasing and sublease businessS$'000 | 3,544 | 2,267 | PDF p. 149 |
| - Food retail businessS$'000 | 3,687 | 3,872 | PDF p. 149 |
| TotalS$'000 | 7,231 | 6,139 | PDF p. 149 |
| Segment results | |||
| Other incomeS$'000 | 1,030 | 555 | PDF p. 149 |
| Administrative and distribution expensesS$'000 | (6,567) | (7,173) | PDF p. 149 |
| IPO professional expensesS$'000 | – | (2,940) | PDF p. 149 |
| Other expensesS$'000 | (455) | (44) | PDF p. 149 |
| Finance costsS$'000 | (886) | (775) | PDF p. 149 |
| Share of profit/(losses) from equity-accounted for associateS$'000 | 7 | (17) | PDF p. 149 |
| Share of profit from equity-accounted for joint venturesS$'000 | 9 | – | PDF p. 149 |
| Profit/(Loss) before income taxS$'000 | 369 | (4,255) | PDF p. 149 |
| Income tax (expense)/benefitS$'000 | (179) | 122 | PDF p. 149 |
| Profit/(Loss) for the yearS$'000 | 190 | (4,133) | PDF p. 149 |
Notes
(1) The cost of sales used in the calculation of segmental GP includes the cost of consumables, payroll and lease rental directly attributable to the outlet.
Segment assets and liabilities are not presented as they are not regularly provided to the Board of Directors.
Segment results exclude restructuring costs and impairment loss; interest income and finance expenses are not allocated to segments.
Analysis by business segments - other material items 2 lines
| Item / unit | 2026S$'000 | 2025S$'000 | Source |
|---|---|---|---|
| Depreciation for right-of-use assets | |||
| - Restaurant leasing and sublease businessS$'000 | 14,223 | 13,993 | PDF p. 150 |
| - Food retail businessS$'000 | 1,896 | 2,007 | PDF p. 150 |
By geography
Geographical segments - revenue and non-current assets 8 lines
| Item / unit | 2026S$'000, by geographical location of customers (revenue) and assets (non-current assets) | 2025S$'000, by geographical location of customers (revenue) and assets (non-current assets) | Source |
|---|---|---|---|
| Revenue | |||
| JapanS$'000 | 30,695 | 28,552 | PDF p. 150 |
| SingaporeS$'000 | 6,366 | 6,558 | PDF p. 150 |
| MalaysiaS$'000 | 9,251 | 8,026 | PDF p. 150 |
| Total revenue (unlabelled)S$'000 | 46,312 | 43,136 | PDF p. 150 |
| Non-current assets | |||
| JapanS$'000 | 43,744 | 52,100 | PDF p. 150 |
| SingaporeS$'000 | 2,161 | 1,112 | PDF p. 150 |
| MalaysiaS$'000 | 2,800 | 1,576 | PDF p. 150 |
| Total non-current assets (unlabelled)S$'000 | 48,705 | 54,788 | PDF p. 150 |
Notes
Revenue and non-current assets information based on the geographical location of customers and assets respectively.
Totals are printed without a row label.
Debt
Borrowings
Borrowing notes 1 tables
Borrowings
| Item / unit | 2026Group S$'000 | 2025Group S$'000 | 2026Company S$'000 | 2025Company S$'000 | Source |
|---|---|---|---|---|---|
| Current | |||||
| LoansS$'000 | 1,715 | 1,581 | 197 | 72 | PDF p. 135 |
| Non-current | |||||
| LoansS$'000 | 6,996 | 7,260 | 595 | 39 | PDF p. 135 |
| Total | |||||
| Total borrowingsS$'000 | 8,711 | 8,841 | 792 | 111 | PDF p. 135 |
Notes
Group's and Company's loans amounting to S$35,000 and S$792,000 (2025: S$207,000 and S$111,000) are supported by a personal guarantee from one of the directors of the Company.
The Group's loans amounting to S$2,613,000 (2025: S$2,947,000) are supported by a personal guarantee from one of the directors of a subsidiary.
The Group's loans amounting to S$Nil (2025: S$164,000) are secured by securities over a security deposit as disclosed in Note 18.
The weighted average effective interest rates of the Group's loans are 1.99% (2025: 1.95%).
Total row has no printed label.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a fixed policy on payment of dividends. The issue of payment of dividend is deliberated by the Board annually having regard to various factors, including but not limited to the Group’s actual and projected financial performance, projected level of capital expenditure and other investment plans, working capital requirements and general financial conditions and the level of the Group’s cash and retained earnings. | Company | PDF p. 62 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend recommendation FY2026 | The Board has not recommended any dividend for FY2026 as the Company intends to retain its earnings to support ongoing expansion. | FY2026 | PDF p. 62 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | FORVIS MAZARS LLP | Group and Company, FY ended 28 February 2026 | PDF p. 81 |
| Engagement partner | Ooi Chee Keong | Group and Company, FY ended 28 February 2026 | PDF p. 81 |
| Opinion | true and fair view | Group and Company, FY ended 28 February 2026 | PDF p. 75 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | This event and condition indicate that material uncertainty exist that may cast significant doubt on the ability of the Group to continue as a going concern. | Group, as at 28 February 2026 · As at 2026-02-28 | PDF p. 89 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment assessment of property, plant and equipment and right-of-use assets | Due to significant management judgements and estimates involved in the impairment assessment and in consideration of significance of PPE and ROU in the statement of financial position of the Group, we have identified this area to be a key audit matter. | Group, as at 28 February 2026 | PDF p. 77 |
| Impairment assessment of goodwill and cost of investment in subsidiaries | Due to significant management judgements and estimates involved in the impairment assessment, we have identified this area to be a key audit matter. | Group goodwill and Company cost of investment in subsidiaries, as at 28 February 2026 | PDF p. 78 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.