The Tai Tong Food & Beverage Group (瓦城泰統集團) yesterday said it plans to grow its number of outlets in Taiwan and China from 77 to 95 by the end of this year and to more than 100 in the first half of next year.
“The company is continuing with its strategy of developing multiple markets with multiple brands this year to maintain our growth momentum,” TTFB chairman Charles Hsu (徐承義) told a news conference.
Tai Tong, which operates five restaurant chains, saw its net profit reach NT$253.47 million (US$8.11 million) last year, or earnings per share of NT$10.89 — the highest level since its listing in 2012 — and an annual increase of 3.72 percent from 2013.
Sales for the first two months of the year totaled NT$601.69 million, up 17.48 percent from the same period last year, according to a company filing with the Taiwan Stock Exchange.
This year, the group’s signature brand, Thai Town Cuisine (瓦城泰式料理), is to launch new restaurants in Taiwan’s second-tier and third-tier cities, Hsu said.
The number of Thai Town restaurants in Taiwan is expected to increase from 49 to 56 by the end of the year, he added.
However, Very Thai Noodles (大心新泰式麵食) will be the focus for Tai Tong in Taiwan this year, Hsu said.
Very Thai, the group’s newest noodle brand, has sold nearly 400,000 bowls of Thai-style noodles since it was launched in May last year.
As a result, Tai Tong aims to increase the number of Very Thai Noodles shops from six to 10 by the end of this year, while the total number of eateries in the nation is expected to reach 30 within the next three years, he said.
In China, Tai Tong plans to continue its expansion of the Thai Town brand, with the first restaurant in Suzhou expected to open later this year.
Hsu said the group’s number of outlets in China may be increased from four to seven by the end of this year.
Merida Industry Co (美利達) has seen signs of recovery in the US and European markets this year, as customers are gradually depleting their inventories, the bicycle maker told shareholders yesterday. Given robust growth in new orders at its Taiwanese factory, coupled with its subsidiaries’ improving performance, Merida said it remains confident about the bicycle market’s prospects and expects steady growth in its core business this year. CAUTION ON CHINA However, the company must handle the Chinese market with great caution, as sales of road bikes there have declined significantly, affecting its revenue and profitability, Merida said in a statement, adding that it would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RISING: Strong exports, and life insurance companies’ efforts to manage currency risks indicates the NT dollar would eventually pass the 29 level, an expert said The New Taiwan dollar yesterday rallied to its strongest in three years amid inflows to the nation’s stock market and broad-based weakness in the US dollar. Exporter sales of the US currency and a repatriation of funds from local asset managers also played a role, said two traders, who asked not to be identified as they were not authorized to speak publicly. State-owned banks were seen buying the greenback yesterday, but only at a moderate scale, the traders said. The local currency gained 0.77 percent, outperforming almost all of its Asian peers, to close at NT$29.165 per US dollar in Taipei trading yesterday. The
RECORD LOW: Global firms’ increased inventories, tariff disputes not yet impacting Taiwan and new graduates not yet entering the market contributed to the decrease Taiwan’s unemployment rate last month dropped to 3.3 percent, the lowest for the month in 25 years, as strong exports and resilient domestic demand boosted hiring across various sectors, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said yesterday. After seasonal adjustments, the jobless rate eased to 3.34 percent, the best performance in 24 years, suggesting a stable labor market, although a mild increase is expected with the graduation season from this month through August, the statistics agency said. “Potential shocks from tariff disputes between the US and China have yet to affect Taiwan’s job market,” Census Department Deputy Director Tan Wen-ling
RSS