Sep 2015 Financial News

First nine months...$723m in revenue for Prestige Holdings

Sep 30, 2015

RESTAURANT management company Prestige Holdings Ltd has posted revenues for the first nine months of the year of $723 million.

This was a four per cent increase from the same period last year, Prestige chairman Christian Mouttet said in the group's consolidated unaudited results for the nine months ended August 31.

Prestige operates KFC, Pizza Hut, TGI Fridays and Subway restaurants in Trinidad and Tobago and several Caribbean islands.

The group's financial statements were released by the Stock Exchange yesterday.

Its shares were unchanged at $9.91 per unit on the stock market yesterday.

Mouttet said profit attributable to shareholders increased by 14 per cent from $36.3 million to $41.2 million.

Earnings per share increased by 13 per cent.

“These results were generated from an average number of 112 restaurants,” Mouttet said.

In terms of operations, he said: “We have seen a positive trend in our profit from operations in the third quarter, mostly driven by exciting promotions that have improved our customer counts, and some gains in labour market recruitment and retention that have helped us improve our service levels and customer satisfaction.”

The Prestige board of directors has recommended an interim dividend of 16 cents per common share to be paid on October 19.

Prestige recorded total revenues of $922 million in 2014, according to its website.

Source:
Trinidad Express
Wednesday September 30, 2015

http://www.trinidadexpress.com/20150929/business/723m-in-revenue-for-prestige-holdings