Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團), which operates three restaurant chains with a total of 62 outlets in Taiwan and China, yesterday posted net income for last year at the highest level in company history, ascribing its increase to record-high number of customers.
TTFB has three brands, including Thai Town Cuisine (瓦城泰式料理), Very Thai Restaurant (非常泰) and 1010 Hunan Cuisine (1010湘辣料理).
During the October-to-December quarter, TTFB posted NT$30.31 million (US$995,800), or NT$1.29 per share, in net income, down from NT$35.19 million, or NT$1.27 per share, recorded a year earlier, according to the company’s stock exchange filing.
For the whole of last year, the company posted NT$244.37 million in net income, up 33.26 percent from a year earlier, with earnings per share (EPS) rising to NT$10.5 last year, from NT$9.44 in 2012.
The company attributed the fast growth in profitability to last year’s expansion plan, which included 17 new outlets and helped raise TTFB’s consolidated sales to NT$2.31 billion the highest level ever.
The expansion also boosted the number of customers visiting TTFB’s restaurants last year to 4.2 million and increased its profit margin to 10.9 percent, the company said in a statement.
TTFB said its board has decided to pay a cash dividend of NT$8.7 per share, compared with NT$8.1 distributed last year.
Eyeing the continuously strong demand, the company plans to raise its total outlets to 100 in Taiwan and China, followed by the launch of its fourth brand in Taiwan, by the end of this year.
Following the launch of its first Thai Town brand outlet in China in November last year, the company announced it would introduce the 1010 Hunan Cuisine brand to China in the first half of this year