Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團) plans to launch two new cuisine brands in Taiwan this year, company officials announced in a statement yesterday.
The company’s seventh restaurant brand is to feature Southeast Asian foods and will be introduced in the first half of this year, while the eighth brand is to enter the market in the fourth quarter, the company said.
NEW OUTLETS
It plans to open 22 new outlets this year, following its ongoing plan of opening 80 stores over the next three years, chairman Charles Hsu (徐承義) said in the statement.
The expansion, which includes 13 new restaurants in Taiwan and nine in China, will boost its total number of stores from 107 last year to 129 this year, the statement said.
The company also plans to expand its presence in the US market in the third quarter of next year, starting off in southern California, it said.
GLOBAL INNOVATION
The company’s global innovation and logistics center in Taoyuan’s Jhongli District (中壢) is scheduled to become operational in the first half of next year, it said.
TTFB’s board of directors has approved a cash dividend distribution of NT$12.6 per share, representing a payout ratio of 89.24 percent based on last year’s record-breaking earnings of NT$14.12 per share, it said.
PROFITS
TTFB, which operates Thai Town Cuisine (瓦城泰式料理) and five other chains, posted a net profit of NT$328.58 million (US$11.23 million) for last year, a 7.62 percent annual increase over the NT$305.32 million recorded in 2016, while sales increased 6.57 percent from NT$3.85 billion to NT$4.11 billion.
The proposed dividend translated into a dividend yield of 5.51 percent.
The company’s stock price closed at NT$228.5 yesterday in Taipei trading.
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