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.
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