Macau corporate restaurateur Future Bright has posted a first half year loss as big spending visitors to the territory drop.
The company reported a net loss of HK$27.5 million (US$3.5 million) in the first half of this year, compared with a net profit of HK$118.5 million a year earlier.
Group turnover was HK$407.3 million, a decrease of 2.8 per cent year on year, largely attributable to the weak performance of the group’s restaurant chain business especially with the decrease in turnover from VIP customers and the poor performance of the new restaurants and food court at Huafa Mall.
Food retailing accounts for the majority of its turnover.
The group’s restaurant chain business performed “in line with the slowdown in number of visitors flowing into Macau” and their spending patterns, the company said in its half year report.
Turnover from food and catering business generated some HK$377.2 million during the period, down 7.8 per cent..
As at June 30, Future Bright operated eight Edo Japanese Restaurants, one Senkizen Japanese Restaurant and two Musashi Japanese Restaurants; one Turtle Essence, one “456” Modern Shanghai Cuisine Restaurant, one Good Fortune Cantonese Kitchen, four Shiki Hot Pot Restaurants, one Fortune Inn Restaurant and one noodle congee shop; one Madeira Portuguese Restaurant, one Azores Portuguese Restaurant, one Vergnano Italian Restaurant, one Royal Thai Kitchen Restaurant, one multi cuisine restaurant, two sandwich bars and one Old Macau Restaurant; and nine Pacific Coffee franchises and one Pepper Lunch franchise.