BreadTalk celebrates another quarter of growth
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Singapore-headquartered F&B group BreadTalk has announced US$148.8 million in total sales for the second quarter, an increase of 0.8 per cent over last year.
Henry Chu, BreadTalk Group CEO said the company ended yet another quarter of core earnings improvement powered by growth in its existing brands and contributions from new brands which have surpassed expectations.
“This was achieved despite costs being incurred to consolidate certain underperforming businesses as well as investments made to boost the efficiency of our backend support infrastructure. On the back of the many corporate actions announced over the past six months, my team and I are excited to get on with the execution to see these initiatives to fruition.”
While pursuing its global expansion plans with strategic joint-venture partnerships, the group will continue to broaden its business mix by developing new direct-owned brands such as Sergeant’s Kitchen in Hong Kong, Shanghai and Bangkok and Una-Yu in Food Republic Shanghai Tower.
Questions & Answers
Q.What is driving BreadTalk's continued growth this quarter, despite incurring some costs?
What is driving BreadTalk's continued growth this quarter, despite incurring some costs?
The company's core earnings improvement is powered by growth in its existing brands and better-than-expected contributions from new brands. This has offset costs from consolidating underperforming businesses and investments in backend infrastructure.
Q.Beyond joint ventures, how else is BreadTalk expanding its business portfolio?
Beyond joint ventures, how else is BreadTalk expanding its business portfolio?
The group is broadening its business mix by developing new direct-owned brands. Examples include Sergeant’s Kitchen, launched in Hong Kong, Shanghai and Bangkok, and Una-Yu, which has opened in Food Republic Shanghai Tower.
Q.What is BreadTalk's strategy for international expansion?
What is BreadTalk's strategy for international expansion?
The company is pursuing its global expansion plans primarily through strategic joint-venture partnerships. This approach helps them enter new markets while also broadening their overall business mix with new brands.
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