Fairwood profit up 17pc to $41.6m

Restaurant operator Fairwood (0052) saw its net profit rise 17 percent year-on-year to HK$41.6 million for the year ended March amid the city's stabilising fast food market.

The company declared a final dividend of 25 HK cents per share, up 47 percent. Its full-year dividend also increased by 36 percent to 30 HK cents.

Revenue remained flat at HK$3.09 billion, compared with HK$3.1 billion over the same period last year.

Looking forward, Fairwood seeks to expand by opening 4 to 8 new fast food restaurants in Hong Kong in the coming year.

In the Greater Bay Area, with a focus on second-tier GBA cities, it plans to open 10 to 14 new stores in the next fiscal year.

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