Food Empire's stock is surging 9.36% in intraday trading, building on its pre-market gains following the release of its impressive third-quarter financial results. The Singapore-based food and beverage company reported a substantial 28.3% year-on-year increase in revenue, reaching $152.6 million for the quarter ended September 30, sparking significant investor enthusiasm.

The stellar performance was primarily attributed to robust growth across the company's European segments. Food Empire's revenue from Russia in Q3 surged by an impressive 48.8% compared to the same period last year, while the combined revenue from Ukraine, Kazakhstan, and Commonwealth of Independent States (CIS) markets rose by 39.2% year-on-year. These results underscore the company's successful expansion and market penetration strategies in Eastern Europe and Central Asia, despite the challenging geopolitical environment.

Investors are responding positively to Food Empire's ability to drive significant growth in challenging markets, demonstrating the company's resilience and effective strategic positioning. The strong results suggest that Food Empire is successfully capitalizing on opportunities in its key European markets, which could bode well for future performance and shareholder value. Additionally, the company's recent investment of $37 million for the expansion of a coffee manufacturing facility in India and the successful raising of approximately SG$42.7 million from a placement activity further bolster investor confidence in the company's growth prospects.