Tai Hing interim profit jumps 280 percent to over HK$40 million

Tai Hing (6811) posted a 280 percent growth in half-year net profit to HK$40.8 million, and raised the interim dividend by 40 percent to 3.5 HK cents.

The local restaurant chain’s revenue increased by 6.2 percent to approximately HK$1.7 billion in the period, but the gross profit margin slightly dipped to 73.4 percent.

The group operates 217 restaurants as of the end of June, up by 6 from December, of which, 188 were located in Hong Kong and Macau and 29 were in China. 

The catering industry is facing numerous challenges such as cost pressures, intense competition, and shifts in consumer preferences and consumption patterns at the moment, and therefore, every step of development must be carefully planned and executed, Tai Hing said.

The group will remain steadfast in its commitment to adopting flexible and adaptive strategies when responding to market changes, striving to create stable and sustainable investment returns for its shareholders, it said.