Cafe de Coral 341

Re: Cafe de Coral 341

Postby winston » Tue Dec 01, 2015 5:46 am

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Cafe de Coral serves up price hike by Kate Lin

Local fast food chain Cafe de Coral (0341) announced a price hike of 2 to 3 percent for the fiscal year ended in March next year after posting a disappointing interim result.

Management said they have already lifted prices by 1 to 1.5 percent in the past half year, mainly due to the increased cost of raw materials and labor.

Cafe de Coral's profit from April to September fell 14.7 percent to HK$207.4 million from a year back. Earnings per share were 35.95 HK cents. An interim dividend of 18 HK cents was proposed.

Its turnover rose 2.79 percent to HK$3.73 billion while gross profit dropped 2.46 percent to HK$458 million.

The result was largely due to an economic slowdown, as well as weaker retail sentiment, the group said. Last year's Occupy movement was blamed for the slow recovery of restaurants located in prime locations. The same store sales grew 4 percent in the SAR.

Chief financial officer Mike Lim Hung-chun said as the leasing market in the SAR is becoming stable, the group which had 158 Cafe de Coral outlets at the end of September will still target opening 30 more stores within the fiscal year.

The group's other brands such as Oliver's Super Sandwiches recorded positive growth. In southern China, Cafe de Coral's fast food catering business was flat and the same store sales slid 4.7 percent.

The group will drop its previous target of opening 20 more restaurants as it has recorded only a single-digit growth in the number of new starts for the past six months.

Its shares closed at HK$25.55, down 5.37 percent.

Source: The Standard
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Re: Cafe de Coral 341

Postby winston » Wed Jun 22, 2016 1:33 pm

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<Result Ann>CAFE DE CORAL H Annual Profit Down 11.7%; Final & Special Div HK98 Cents

CAFE DE CORAL H (00341.HK) announced the annual results for the year ended March 2016.

Net profit decreased 11.7% yearly to HK$518 million. If excluding the fair value change on investment properties, gain from the disposal of leasehold properties as well as the loss attributable to a discontinued operation, the adjusted net profit would have decreased by 6.6%.

EPS equaled HK$0.9.

A final dividend of HK63 cents and special dividend of HK35 cents were declared.

The total dividend yield for the full year was 130.7%.

Source: AAStocks Financial News
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Re: Cafe de Coral 341

Postby winston » Thu Jun 23, 2016 7:33 am

Rents eat into Cafe de Coral net

by Esther Yu

Cafe de Coral (0341) posted a 12 percent fall in annual profit to HK$518 million mainly due to slower growth in the mainland and higher rents for its outlets.

A final dividend of 63 HK cents and a special dividend of 35 HK cents per share is proposed.

At the press conference yesterday, the chain restaurants' chief executive Peter Lo Tak-shing said all the Spaghetti House outlets were closed down in the mainland and more than 200 staff laid off due to the brand's poor performance.

A cautious attitude, he said, is needed for operations in the mainland, where there are 110 Cafe de Coral outlets.

Same store sales saw a 7 percent decrease comparing to a year back while revenue from fast food business was down 5 percent in China.

"We are confident that business in the mainland will improve," said Lo, adding that same store sales had stabilized since May.

In Hong Kong, revenue saw a 5 percent rise to HK$6.44 billion, which represents 85 percent of the total revenue. Lo said yesterday that the group will open another 50 to 60 fast food outlets in Hong Kong during this financial year, as he believed locals will spend more on fast food amid the economic slowdown.

Rents saw double digit growth last year, but the group was able to rent shops at strategic locations for further expansion.

Before the release of its results, Cafe de Coral was accused of exploiting staff with long hours and cutting overtime pay. Lo said he hopes to reduce overtime to two hours.

The chain restaurant currently employs more than 17,000 staff in Hong Kong. It states in its annual report that 'recruiting and retaining good people continued to be a top priority for the company.'

Given a shortage of workers in the local food and beverage industry, Lo also said that the restaurant is set to offer competitive pay to employ more staff, and that there had been double digit pay raises for certain ranks of staff last year.

Source: The Standard
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Re: Cafe de Coral 341

Postby winston » Thu Jun 23, 2016 9:11 am

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CAFE DE CORAL H: to Continue Hiring Staff; Sees Upside Pressure on Wage

CAFE DE CORAL H (00341.HK) CEO Peter Lo said at the annual results conference that competitive salary packages must be offered as labor shortage of catering business in Hong Kong remains unsolved, hence upside pressure on wage is unavoidable, adding that the group will continue to hire more staff to cope with its active store opening plan this financial year.

Source: AAStocks Financial News
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Re: Cafe de Coral 341

Postby winston » Mon Nov 28, 2016 2:47 pm

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<Post-Result>CAFE DE CORAL H (00341.HK) Once Hits 52-Week High on Growth Restored in Interim Profit

CAFE DE CORAL H (00341.HK) once hit the 52-week high of $27.9 after midday on growth restored in interim profit.

The stock last traded at $27.6, up 3%, on turnover increasing to $7.69 million.

The company announced that for the interim period as of the end of September, the net profit rose nearly 12% yearly to HK$232 million.

The EPS equaled HK40.13 cents; an interim dividend of HK18 cents was declared.

Source: AAStocks Financial News
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Re: Cafe de Coral 341

Postby winston » Tue Nov 29, 2016 8:17 am

Cafe de Coral to open new outlets

by Dominique Nguy

Cafe de Coral (0341) chief executive Peter Lo Tak-shing said yesterday that the fast food chain plans to open 11 new outlets in the next few months and hire an additional 800 to 1,000 staff.

He said the company has been hiring more people over the past 12 months even as it provides its staff with competitive wages.

Growth in the wages and salaries of frontline technical staff has gone up by double digits over the past year as it experienced growing difficulties in hiring additional staff, he said.

He stressed that the company will exert more efforts to control other operating costs to try and offset the rising costs of wages and salaries.

Cafe de Coral's net profit in the first half rose 11.8 percent to HK$232 million from a year earlier, while revenue was 4.3 percent higher at HK$3.89 billion.

Lo attributed the rise in revenue mainly to the overall improvement in Hong Kong's food and beverage business environment.

The average price per meal at Cafe de Coral outlets has gone up by about HK$1 to HK$2 to HK$35 from the same period last year, he said.

Lo said the company takes a positive view on the prospects for Hong Kong's food sector and it is on this basis that it is mapping out plans to open more branches.

He said that while rents have not dropped significantly, current levels are still affordable to the company.

The board has recommended an interim dividend of 18 HK cents per share.

In China, sales of Cafe de Coral's restaurants grew 1.2 percent from a year earlier.

But overall revenue dropped 16.3 percent due to the adverse impact of the new value-added tax rule and the closure of non-performing stores.

The fast food chain said in its interim report that it has closed down various non-performing outlets in eastern and southern China. It has also strengthened operational efficiencies in its profitable outlets.

Lo said he remains cautiously optimistic on prospects in the future of the company's business in the mainland.

Source: The Standard

http://www.thestandard.com.hk/section-n ... ?id=176848
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Re: Cafe de Coral 341

Postby winston » Tue Jun 27, 2017 7:17 am

Staff costs hit profit at Cafe de Coral

by Samantha Wong

Cafe de Coral Group (0341) recorded a 2.7 percent decrease in net profit to HK$503 million year-on-year, while reporting a 4 percent increase in revenue to HK$7.895 billion, due to an expansion of its store network and portfolio enhancement.

A final dividend of 63 HK cents per share is proposed, with a total dividend payout ratio 94.1 percent for the year.

The restaurant and institutional catering company said Hong Kong segment results dropped 6.2 percent mainly due to the increase in manpower costs.

Mike Lim Hung-chun, chief financial officer of the group, said the cost of labor accounted for 31 percent of sales, and a double-digit percentage pay rise for employees led to the increase in manpower expense.

Nevertheless, the company said it recognized that offering competitive pay and benefits, and encouraging work-life balance, is crucial to maintain sustainable growth of the business.

During the year, Cafe de Coral opened 10 new fast-food outlets, bringing the number of stores to 166. Twelve new stores will be opened in the coming months.

We see the softening leasing market as an opportune time to expand our network more aggressively, despite keen competition for good locations, the company said.

Chief executive Peter Lo Tak-shing said the company expects to hire 1,000 more staff for the expansion of network, with 30 to 40 more branches in Hong Kong, and 10 to 20 branches in the mainland.

The company also said mainland results increased 147.5 percent, mainly due to strong same-store sales growth and improvement in profit margin.

New business models have been developed in the mainland, including e-commerce and online-to-offline deliveries, in response to changes in consumption behavior and higher service expectations among customers, the company added.

The group has 359 operating units in Hong Kong and 99 outlets in mainland China, with a workforce of about 18,800 employees for the financial year.

Source: The Standard

http://www.thestandard.com.hk/section-n ... ?id=184422
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Re: Cafe de Coral 341

Postby winston » Thu Aug 03, 2017 6:33 am

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A success story made in Hong Kong: Café de Coral – fast food chain that’s been feeding the working class since 1969

The first Café de Coral was opened in Causeway Bay in 1969 by Victor Lo Tang-seong, who wanted to introduce burgers to the city. He developed the concept of selling Chinese fast food in a restaurant setting, and the rest is history

Source: SCMP

http://www.scmp.com/lifestyle/article/2 ... thats-been
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Re: Cafe de Coral 341

Postby winston » Thu Oct 19, 2017 8:04 am

Cafe de Coral to shut all outlets in eastern China as the Hong Kong flavour goes out of favour

The company announced on its official WeChat account that it would “close all eastern China stores in late October”, and urged customers who are its members to cancel their membership and get a refund

The chain would “close all its eastern China stores” in Shanghai, Nanjing and Wuxi by late October.

The company, listed on the city’s stock exchange in 1986, also operates restaurants under different brands, including The Spaghetti House, Manchu Wok, Oliver’s Super Sandwiches and Ah Yee Leng Tong.

Net profit fell 2.7 per cent last financial year to HK$503.8 million (US$64.5 million). Its China sales fell 12.5 per cent in the same period, even as Hong Kong revenue rose 7.3 per cent. Sales in southern China fell 8.7 per cent to HK$870.6 million.


Source: SCMP

http://www.scmp.com/business/article/21 ... r-goes-out
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Re: Cafe de Coral 341

Postby winston » Thu Aug 09, 2018 1:06 pm

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CAFE DE CORAL H(341)

Analysis:

The Group is principally engaged in the operation of quick service restaurants and institutional catering, fast casual and casual dining chains, as well as food processing and distribution business.

For the year ended 31 March 2018, the revenue of the Group was 8.43 billion HKD, with 6.7% growth YoY, whereas the net profit dropped by 8.8%, due mainly to the increasing investment in workforce.

In addition to the brand “Cafe de Coral”, The Spaghetti House, Shanghai Lao Lao, Mixian Sense, Super Super Congee & Noodles were also the brands of the Group.

Currently, the Group had a network of 366 stores in Hong Kong.

Total receipts of fast food shops increased by 5.7% in value and 1.3% in volume in the second quarter of 2018, indicating the fast food market in Hong Kong are growing steadily.

Besides businesses in Hong Kong, the Group are eager to develop its businesses in China, and will focus on the Guangdong-Hong Kong-Macao Greater Bay Area, especially Guangzhou and Shenzhen. Currently, the Group had 97 stores in China.

Strategy:
Buy-in Price: $19.30, Target Price: $21.80, Cut Loss Price: $ 18.80

Source: Phillips
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