Tao Heung flags 50pc profit dive

Business | 17 Jul 2017 5:48 pm

Restaurant and bakery operator, Tao Heung Holdings (0573) reported today profit for the six months ended June 2017, is expected to drop by more than 50 percent for the year before period.

The company attributed the weak performance a drop in turnover due to weak consumption sentiment in mainland China and Hong Kong; rising staff costs; higher rents and closure of underperforming restaurants.

The company operated 25 Tai Cheong Bakery outlets and 75 restaurants as of the first half of last year.



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