Financial Results
HAIDILAO restaurant operator Super Hi International posted a net profit of US$37.7 million for the third quarter ended Sep 30, reversing its net loss of US$1.4 million over the same period the year before.
Key Highlights
Revenue for Q3 rose 14.6 per cent to US$198.6 million, from US$173.3 million in the year-ago period. Earnings per share for the period stood at US$0.06.
Business Expansion
The higher profit was mainly due to an increase in revenue, driven by ongoing business expansion, as well as higher dining-out demand – buoyed by the recovery of the tourism industry.
Operational Efficiency
An improvement in operational efficiency and an increase in net foreign exchange gains of US$34.6 million also contributed to the bottom line, added Super Hi.
Segmental Performance
By segment, the group’s restaurant operations recorded US$190.9 million in revenue. This represented a 14.5 per cent increase from US$166.7 million recorded in the previous corresponding period.
Delivery Business
Revenue from Super Hi’s delivery business amounted to US$2.6 million in Q3, up 8.3 per cent from US$2.4 million in the same period the prior year.
Other Business Segment
The other business segment contributed US$5.1 million in revenue, representing an increase of 21.4 per cent on the year.
Outlook
June Yang, chief executive and executive director of Super Hi, said the group will continue to optimise its supply chain, product development, brand marketing and digital operations to further improve its store operations.
Conclusion
Super Hi International has reported a significant improvement in its financial performance, with a net profit of US$37.7 million for the third quarter ended Sep 30. The company’s revenue rose 14.6 per cent to US$198.6 million, driven by ongoing business expansion and higher dining-out demand. The company’s delivery business and other business segment also contributed to the growth.
Frequently Asked Questions
Q: What was Super Hi International’s net profit for the third quarter ended Sep 30?
A: US$37.7 million
Q: What was the increase in revenue for Q3 compared to the same period last year?
A: 14.6 per cent
Q: What contributed to the growth in the company’s delivery business?
A: Partnerships with local delivery platforms
Q: What is the company’s outlook for the future?
A: Super Hi will continue to optimise its supply chain, product development, brand marketing and digital operations to further improve its store operations.
