Tai Tong Food & Beverage Group (TTFB, 瓦城泰統集團) has said that it operated 129 stores in Taiwan and 11 in China as of the end of last month.
The total number of 140 stores for last year was up 15 percent from a year earlier, the nation’s largest Thai and full-service restaurant chain operator said in a statement on Wednesday last week.
The company said it expects to enter the US market this year, while the accelerated rate of store openings is expected to lift its sales and profit to new record levels.
TTFB operates six restaurant chains — Thai Town Cuisine (瓦城泰式料理), Very Thai Restaurant (非常泰), 1010 Hunan Cuisine (1010湘), Very Thai Noodles (大心新泰式麵食), Ten Ten Hunan Bistro (十食湘) and Shann Rice Bar (時時香) — as well as new cuisine brands Yabi Kitchen and Thai BBQ.
The company opened 19 stores last year, it said.
Last year, TTFB generated consolidated sales of NT$4.9 billion (US$163.6 million), up 13.92 percent from NT$4.3 billion in 2018 and setting a new record for the eighth consecutive year.
Commenting on the sales growth, the company said it has been accelerating store openings since 2018, which has successfully driven an increase in the number of overall visitors and revenue growth.
The firm’s food delivery business, which launched in the second half of 2018, also contributed to revenue growth last year, TTFB said.
Analysts are positive about the company’s business outlook, given its established back-end support on food materials, training systems for chefs and standardized management of kitchen work.
In addition, there is still room for the company to expand in light of an increasing number of department stores and shopping malls in Taiwan, they said.
About 75 percent of TTFB’s stores are located in department stores and shopping malls.
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