Behind the Sushi Counter
A 26% rise, and where the margin went
Pau AnalyticsInteractive dashboardFY2026 · RM’000
RM297.1M
Revenue (FY2026)
+26.1% YoY
RM126.2M
Gross profit
+28.4% YoY
RM45.7M
Profit after tax
+20.6% YoY
42.5%
Gross margin
+0.8 ppt YoY
15.4%
Net margin
−0.7 ppt YoY
+80.5%
Admin expense growth
3× the pace of sales
Why profit grew less than sales
What changed between FY25 (RM51.1M) and FY26 (RM62.6M) pre-tax profit, by driver (RM’000). Revenue growth added the most; the cost of growing (administrative and distribution) took much of it back
Source: Empire Premium Food Berhad, Q4 FY2026 interim report. Volume effect = revenue change at last year’s gross margin; margin & mix is the residual tying to the gross-profit change.
Revenue vs net margin
Sales rose, but the net margin eased off its year-ago level
Source: Empire Premium Food Berhad, Q4 FY2026 interim report.
Cost of sales eased, overhead climbed
Each cost as a share of revenue. Admin is the squeeze
Source: Empire Premium Food Berhad, Q4 FY2026 interim report.
Profit & loss statement
FY2025 vs FY2026. RM’000, YoY % and % of revenue. Subtotals in bold; costs as reported
| Line item | FY2025 | FY2026 | YoY % | % of Rev (FY26) |
|---|
Source: Empire Premium Food Berhad, Q4 FY2026 interim report. First reported year as a listed group, read full year vs full year.
Revenue to net profit bridge
How RM297.1M of revenue becomes RM45.7M of net profit
Source: Empire Premium Food Berhad, Q4 FY2026 interim report.
Cost & profit structure
Cost of sales eased; the give-back is below gross profit
Source: Empire Premium Food Berhad, Q4 FY2026 interim report.
42.5%
Gross margin
+0.8 ppt vs 41.7%
20.8%
Operating margin
−0.9 ppt vs 21.7%
15.4%
Net margin
−0.7 ppt vs 16.1%
Margins FY25 vs FY26
Gross margin up, operating and net margin down: a split decision
Source: Empire Premium Food Berhad, Q4 FY2026 interim report.
Margin change since last year
Gross margin up, operating and net margin down: the split decision in one view (ppt)
Source: Empire Premium Food Berhad, Q4 FY2026 interim report.
Administrative expense as % of revenue
Up 2.0 ppt, the single driver of the margin squeeze
Source: Empire Premium Food Berhad, Q4 FY2026 interim report.
Revenue by outlet format
Grab-and-go outlets bring in the large majority of sales
Source: Empire Premium Food Berhad, Q4 FY2026 interim report, Review of Performance.
Revenue by format (RM’000)
FY2026 revenue by outlet type
Source: Empire Premium Food Berhad, Q4 FY2026 interim report, Review of Performance.
Outlet format scorecard (FY2026)
Outlets, revenue, share of sales and revenue per outlet. The group reports as one segment, with no profit or prior-year split by format
| Outlet format | Outlets | Revenue (RM’000) | Share of sales | Revenue / outlet (RM’000) |
|---|
Source: Empire Premium Food Berhad, Q4 FY2026 interim report, Review of Performance.