Food Empire posted a 16.9% increase in revenue to US$159.7 million for the first quarter ended March 31, 2026 [1, 2, 3, 4]. The global food and beverage group attributed strong growth to higher sales, price increases, and currency effects, particularly from Russia.
Revenue in Russia rose 29.4% to US$51 million, supported by the Russian rouble appreciating 16.5% against the US dollar during the quarter [1, 3, 4]. The company also saw revenue in Central Asia climb 36.4% to US$30.7 million on product launches, price gains in Kazakhstan and Uzbekistan, marketing promotions, and expanding distribution [1, 3, 4].
Growth outside these markets was more moderate. Revenue rose 7.5% in South-east Asia and 5.9% in Europe [1]. South Asia was the only region to see a decline, with revenue falling 2.1% to US$18.7 million [1].
Food Empire’s CEO, Sudeep Nair, said the group believes the recent one-for-five bonus share issue approved by the board will "enhance liquidity and therefore, institutional relevance as it will improve accessibility for institutional investors requiring minimum liquidity thresholds" [1]. The company announced the bonus share issue alongside the Q1 results on May 13, 2026 [1, 2, 3, 4]. Food Empire shares climbed as much as 9.7% in early trading the following day [2, 3, 4].
Since 2013, Food Empire’s combined revenue from Asia has surpassed its traditional markets due to diversification and brand-building efforts, Nair said [1]. The company holds a market value of S$1.8 billion, employs 4,000 people, and operates in over 60 markets worldwide, including Russia and multiple Asian countries [3, 4]. It was also listed in Fortune magazine’s 2025 Southeast Asia 500 list [3, 4].
Looking ahead, Food Empire plans to expand manufacturing facilities, with a new coffee-mix plant in Kazakhstan expected to start contributing this year. Further expansions include growing its India spray-dried soluble coffee plant by 2027, and a new freeze-dried soluble coffee facility in Vietnam by 2028 [1]. CEO Nair said the company is "cautiously optimistic that the growth momentum will carry through the rest of the year" [1].
