The Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團), a major Taiwanese restaurant operator, yesterday said it aims to increase its number of outlets this year at a pace similar with last year.
TTFB opened 19 new outlets in Taiwan and China last year.
The New Taipei City-based company operates 95 outlets and plans to increase the number to 114 by the end of this year.
The group plans to open five new outlets in the first half of the year and the remaining outlets in the second half in second-tier cities in Taiwan, company chairman Charles Hsu (徐承義) said.
Hsu said he is positive about business growth this year after achieving a net profit of NT$279.21 million (US$8.58 million) last year, an increase of 10.16 percent from 2014.
The group, which operates five restaurant chains, including Thai and Hunan cuisine, is known for its signature brand, Thai Town Cuisine (瓦城泰式料理).
A new Thai Town Cuisine might be launched in the Shanghai Tower this year, becoming the chain’s sixth store abroad, Hsu said.
Tai Tong’s board on March 10 approved plans to distribute cash dividends of NT$10.6 per share.
The cash dividend plan would translate into a yield of 4.49 percent, based on TTFB’s closing price of NT$236 in Taipei trading yesterday.
TTFB shares gained 0.85 percent to NT$236 yesterday, outperforming the TAIEX’s 0.02 percent rise.
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