Restaurant chain operator TTFB Co Ltd (瓦城泰統集團) yesterday offered a positive outlook for this year as it boosted its dividend payout to shareholders.
“Although the food and beverage industry is still facing challenges such as a labor shortage and inflation, the group is still optimistic about its operating performance in 2024,” TTFB said in a statement after holding its annual general meeting in Taipei.
“The group aims to achieve a double-digit increase in new store openings this year, with the pace of expansion accelerating in the second half of the year,” the nation’s largest Thai food and full-service restaurant chain operator said.
Photo courtesy of TTFB Co Ltd
TTFB operates several restaurant chains, including 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 Southeast Asian cuisine brand Yabi Kitchen, pad thai brand BoBo and Taiwanese food brand Shann Shann (香香).
As of the end of April, the company was running 149 stores in Taiwan, it said.
This year, TTFB continued to refine its raw material supply chain management and operating cost controls, as price pressures remained elevated, the company said in the statement.
It also worked to enhance operating efficiency through digitalization, as well as improve marketing and customer loyalty programs to ensure service efficiency, boost customer satisfaction and expand its customer base, TTFB said.
As a result, consolidated revenue for the first five months of the year grew 4.53 percent year-on-year to NT$2.496 billion (US$77.04 million), the highest January-to-May figure in the company’s history, TTFB said.
The company said it launched four new stores in Taiwan in the first five months of the year.
It said it also plans to open three new stores from this month to next month, and launch a new restaurant brand by the end of the year.
TTFB posted a net profit of NT$440 million and revenue of NT$5.72 billion last year. Its earnings per share last year were NT$12.37, up from NT$3.62 in 2022.
Shareholders yesterday approved the company’s dividend payout of NT$11 per share, an increase from NT$5 the previous year, with a payout ratio of 88.92 percent.
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
GREAT SUCCESS: Republican Senator Todd Young expressed surprise at Trump’s comments and said he expects the administration to keep the program running US lawmakers who helped secure billions of dollars in subsidies for domestic semiconductor manufacturing rejected US President Donald Trump’s call to revoke the 2022 CHIPS and Science Act, signaling that any repeal effort in the US Congress would fall short. US Senate Minority Leader Chuck Schumer, who negotiated the law, on Wednesday said that Trump’s demand would fail, while a top Republican proponent, US Senator Todd Young, expressed surprise at the president’s comments and said he expects the administration to keep the program running. The CHIPS Act is “essential for America leading the world in tech, leading the world in AI [artificial
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
RSS