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Haidilao operator Super Hi posts $50.7m net profit in Q3
The Straits Times
|November 27, 2024
Haidilao restaurant operator Super Hi International posted a net profit of US$37.7 million (S$50.7 million) for the third quarter ended Sept 30, reversing a net loss of US$1.4 million in the year-ago period.
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Singapore-based Super Hi said it enjoyed an increase in revenue, driven by ongoing business expansion, as well as higher dining-out demand - buoyed by the recovery of the tourism industry.
Revenue for the quarter rose 14.6 per cent to US$198.6 million, from US$173.3 million a year ago.
An improvement in operational efficiency and an increase in net foreign exchange gains of US$34.6 million also contributed to the bottom line, added Super Hi.
The group's restaurant operations saw a 14.5 per cent increase in revenue to US$190.9 million from US$166.7 million a year ago.
In Q3, Super Hi saw more than 7.4 million customers, up 4.2 per cent on the year.
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