Restaurant chain operator TTFB gives positive outlook amid rising revenue

  • By Chen Cheng-hui / Staff Reporter

Restaurant chain operator TTFB Co Ltd (瓦城泰統集團) offered a positive outlook for the second half of the year yesterday, after revenue rose 96.86% last month from a year earlier. former.

A substantial increase in the number of restaurant customers, combined with a steady recovery in the local food and beverage market, as well as the arrival of the traditional high season for restaurants, should boost the company’s sales in the coming months, the country declared Thailand’s largest chain restaurant and full-service restaurant operator in a statement.

TTFB operates six restaurant chains – Thai Town Cuisine (瓦城泰式料理), Very Thai Restaurant (非常泰), 1010 Hunan Cuisine (1010湘), Very Thai Noodles (大心新泰式麵食), Ten Ten Hunan Bistro (十食湘) and Shann Rice Bar (時時香) — as well as new cooking brands Yabi Kitchen and Thai BBQ.

Photo courtesy of TTFB Co Ltd

At the end of June, the company operated 135 stores in Taiwan and four in China, it said in the statement.

This year, TTFB continued to develop new services and expand its sales channels, even though COVID-19 outbreaks discouraged many people from gathering outdoors in the second quarter.

With lackluster sales in the April-June quarter, TTFB’s revenue for the first half of the year fell 6.01% year-on-year to NT$2.06 billion ($68.7 million). US dollars), while it recorded a net loss of NT$28.45 million, or a net loss per share of NT$1.24.

This is down 127.06% from net profit of NT$105.11 million a year earlier, or earnings per share of NT$4.59, according to company data. .

First-half gross margin fell to 47% from 51.36% a year earlier, he added.

The company’s operations in China recorded net losses of NT$23 million in the first half as strict COVID-19 lockdown measures in Shanghai severely affected its numbers, it said.

As sales started strong this quarter after last month’s revenue hit NT$430.66 million, from NT$311.95 million in June, the company said it was optimistic about its outlook. for this quarter and the next quarter, citing the potential mid-autumn trade to come. Festival, Double Ten National Day and year-end banquet season, the statement said.

TTFB launched four new stores in Taiwan in the first half of the year and aims to maintain a double-digit increase in new store openings this year as the company expects a larger scale of operations and a wide variety of restaurant brands to further drive sales, he says.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. The final decision will be at the discretion of the Taipei Times.

About Vivian J. Smith

Check Also

SF family restaurant chain The Grove Shutters Design District Cafe

English The Design District location at The Grove, a family-friendly neighborhood cafe popular for its …