Tam Jai International Co. LimitedProfit for the Year, excluding Government Subsidies, Jumps 34.2%JV & Franchise Strategy Mark New Chapter for Overseas ExpansionResults Highlights ? Group's revenue grew 5.9% to HKUSD2,748.4 million, driven by 14 net openings in restaurant network andslight comparable restaurant revenue growth in Hong Kong. ? Profit for the year excluding government subsidies increased by 34.2% to HKUSD117.0 million. ? Narrowed operating loss outside Hong Kong by 52.
Stable growth was recorded in the Hong Kong market, where revenue rose 4.8% YoY to HKUSD2,570.9 million and comparable restaurant revenue increased slightly by 0.3% during the Year. Across the combined markets outside of Hong Kong, the Group's revenue grew by 25.1% YoY, while operating loss narrowed by 52.5%.
The Group's revenue from Mainland China increased by 33.5% YoY in FY2024, mainly attributable to six net openings. In view of the weaker economy and softer consumption sentiment in Shenzhen, the Group redirected its expansion focus to Guangzhou and second-tier cities in the Greater Bay Area , capitalising on the lower operating costs and larger domestic populations in these regions.
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