Fruitful first half for Fairwood Holdings
Upgrades and expansions have helped boost first-half revenue and profits for fast-food group Fairwood Holdings.
For the six months to the end of September the casual dining group’s revenue grew by 11.9 per cent to HK$1.4 billion (US$179 million). Profit attributable to equity shareholders rose 12.8 per cent to $117 million.
“Our Hong Kong restaurant business performed exceptionally well,” says Fairwood executive chairman Dennis Lo. As patronage continued to grow, the group opened nine more restaurants in Hong Kong “and will maintain this approach going forward”.
“Feel Good” dishes have been introduced to meet the needs of growing numbers of health-conscious customers. These include the Wholesome Delight series, low-calorie breakfast sets, Fairwood’s signature Ah Wood Curry with vegetables, the Tasty & Green series, and the No-MSG-Added series that now uses less oil for cooking.
Fairwood has also expanded its table-delivery service to non-dinner hours, specifically for dishes made to order, as well as for customers with special needs. It has also continued rolling out the “third generation’ of its orange-themed interior design concept.
It has also upgraded its central food-processing plant and increased automation for more efficiency in food preparation.
Apart from the core Fairwood brand, the group has also been actively developing its specialty restaurant business in Hong Kong. During the first half, the group opened three specialty restaurants, including its newest concept brand Taiwan Bowl. Targeting younger customers, the brand offers a contemporary take on Taiwanese cuisine in a casual setting. The group also plans to keep expanding its specialty restaurant network, building on the performance of its casual Japanese/Western brand ASAP.
Fairwood says its Mainland China outlets delivered 9 per cent growth for the period. It is continuing its strategy of focusing on residential areas in southern China, introducing the “Feel Good” movement, aligning menus with Hong Kong, and partnering with delivery platforms to expand its takeaway business.
At the end of September, the group had 141 stores in in Hong Kong – 130 fast-food outlets and 11 specialty restaurants – and nine on the mainland.