Restaurant chain operator TTFB Co Ltd (瓦城泰統集團) yesterday offered a positive outlook for the second half of the year, after revenue last month grew 96.86 percent from a year earlier.
A substantial increase in dine-in customers combined with a steady recovery in the local food-and-beverage market, as well as the arrival of the traditional high season for restaurants, are expected to boost the company’s sales in the coming months, the nation’s largest Thai food and full-service restaurant chain operator said in a statement.
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.
Photo courtesy of TTFB Co Ltd
As of the end of June, the company operated 135 stores in Taiwan and four in China, it said in the statement.
TTFB this year continued to develop new services and expand its sales channels, even as COVID-19 flare-ups discouraged many people from gathering outdoors in the second quarter.
With bleak sales in the April-to-June quarter, TTFB’s revenue for the first half of the year dropped 6.01 percent year-on-year to NT$2.06 billion (US$68.7 million), while it reported a net loss of NT$28.45 million, or a net loss per share of NT$1.24.
That was a 127.06 percent decline from net profit of NT$$105.11 million a year earlier, or earnings per share of NT$4.59, company data showed.
First-half gross margin fell to 47 percent from 51.36 percent a year earlier, it said.
The company’s operations in China posted net losses of NT$23 million in the first half, as strict COVID-19 lockdown measures in Shanghai severely affected its headline figures, it said.
As sales started out strong this quarter after last month’s revenue hit NT$430.66 million, up from NT$311.95 million in June, the company said it is optimistic about its outlook for this quarter and next quarter, citing the business potential of the upcoming Mid-Autumn Festival, Double Ten National Day and year-end banquet season, the statement said.
TTFB launched four new stores in Taiwan in the first half of the year, and aims to retain a double-digit increase in new store openings this year, as the company expects a larger scale of operations and a wide variety of restaurant brands to further boost sales, it said.
RUN IT BACK: A succesful first project working with hyperscalers to design chips encouraged MediaTek to start a second project, aiming to hit stride in 2028 MediaTek Inc (聯發科), the world’s biggest smartphone chip supplier, yesterday said it is engaging a second hyperscaler to help design artificial intelligence (AI) accelerators used in data centers following a similar project expected to generate revenue streams soon. The first AI accelerator project is to bring in US$1 billion revenue next year and several billion US dollars more in 2027, MediaTek chief executive officer Rick Tsai (蔡力行) told a virtual investor conference yesterday. The second AI accelerator project is expected to contribute to revenue beginning in 2028, Tsai said. MediaTek yesterday raised its revenue forecast for the global AI accelerator used
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has secured three construction permits for its plan to build a state-of-the-art A14 wafer fab in Taichung, and is likely to start construction soon, the Central Taiwan Science Park Bureau said yesterday. Speaking with CNA, Wang Chun-chieh (王俊傑), deputy director general of the science park bureau, said the world’s largest contract chipmaker has received three construction permits — one to build a fab to roll out sophisticated chips, another to build a central utility plant to provide water and electricity for the facility and the other to build three office buildings. With the three permits, TSMC
The DBS Foundation yesterday announced the launch of two flagship programs, “Silver Motion” and “Happier Caregiver, Healthier Seniors,” in partnership with CCILU Ltd, Hondao Senior Citizens’ Welfare Foundation and the Garden of Hope Foundation to help Taiwan face the challenges of a rapidly aging population. The foundation said it would invest S$4.91 million (US$3.8 million) over three years to foster inclusion and resilience in an aging society. “Aging may bring challenges, but it also brings opportunities. With many Asian markets rapidly becoming super-aged, the DBS Foundation is working with a regional ecosystem of like-minded partners across the private, public and people sectors
BREAKTHROUGH TECH: Powertech expects its fan-out PLP system to become mainstream, saying it can offer three-times greater production throughput Chip packaging service provider Powertech Technology Inc (力成科技) plans to more than double its capital expenditures next year to more than NT$40 billion (US$1.31 billion) as demand for its new panel-level packaging (PLP) technology, primarily used in chips for artificial intelligence (AI) applications, has greatly exceeded what it can supply. A significant portion of the budget, about US$1 billion, would be earmarked for fan-out PLP technology, Powertech told investors yesterday. Its heavy investment in fan-out PLP technology over the past 10 years is expected to bear fruit in 2027 after the technology enters volume production, it said, adding that the tech would
RSS