Café de Coral profit drops by 34.5pc to HK$149mBusiness | 26 Nov 2019 3:48 pm
Fast-food chain Café de Coral (0341) said net profit for the six months ended September 30 slumped by 34.5 percent from a year ago to HK$149.7 million due to weak revenue growth in Hong Kong.
Revenue grew by 1.6 percent year-on-year to HK$4.26 billion, of which quick-service restaurant revenue in Hong Kong climbed by 2.2 percent to HK$3.13 billion. Casual dining revenue slid by 4.1 percent to HK$443 million.
Earnings per share were HK$0.2581.
The company declared an interim dividend of 19 HK cents.
Revenue from the mainland business grew by 3.6 percent over a year earlier to HK$612 million.
In terms of segment results, which represents operating profit before fair value changes, Hong Kong segment results decreased by 21.2 percent to HK$298.2 million compared with the same period last year.
The quick-service restaurants and institutional catering business operated 303 outlets as of September 30, representing a net addition of five since March and three of them are Café de Coral outlets.