Food Empire 9M revenue rises 11.7% to record US$476.5 million on Russia, Central Asia growth

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Double-digit growth in those areas lifts sales, but Q3 momentum cools on regional tensions

Double-digit growth in those areas lifts sales, but Q3 momentum cools on regional tensions

[SINGAPORE] Food Empire posted an 11.7 per cent rise in revenue to a record US$476.5 million for the nine months ended Sep 30, from US$426.7 million in the previous corresponding period.

This was driven mainly by its core Russia and Central Asia segments, which both logged double-digit revenue growth. All other geographical segments also had higher revenue, the mainboard-listed group said on Thursday (Nov 12).

For its third quarter ended Sep 30, revenue rose 5.8 per cent to US$161.4 million, from US$152.6 million a year earlier. This was driven by growth across its core segments and partly offset by a 5.2 per cent decline in Europe.

Food Empire said that growth moderated from the first half of the year, amid geopolitical uncertainty, logistical constraints and currency volatility. It added that it “adjusted its operating priorities” to balance sales growth and margins.

By geograhical segment, Russia, the group’s largest, saw revenue rise 16 per cent to US$155.5 million in 9M 2026. Food Empire attributed this to its “leading position” in instant coffee-mix products and ongoing investment in brand building.

Revenue from Central Asia, its fastest-growing segment, climbed 25.4 per cent to US$94.8 million in 9M 2026, on higher sales volumes in Uzbekistan, Turkmenistan and Georgia, as well as higher demand and a stronger Kazakhstan tenge against the US dollar in Kazakhstan.

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“Growth was more measured in Q3,” the group noted, “as heightened tensions in the Middle East disrupted logistics and supply chains and added to production and distribution costs.” For the quarter, Central Asia revenue came in at US$34.3 million, up 12.8 per cent year on year.

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