Global Yellow Pages says its diversification into food and property is paying off as its once core business continues to decline.
The company bought the intellectual property rights of Wendy’s Supa Sundaes brand in September 2014 and licences the use of the brand in various countries.
That business contributed S$1 million to the company’s net profit in the first half of the current financial year, according to trading figures just released.
In January this year, the start of the second six months trading period, Global Yellow Pages bought Supatreats Asia, expanding its foothold into the retail master franchise and supply chain business for Wendy’s brand of ice cream and treats in Australia and New Zealand with a network of over 150 stores.
A week later it entered into an agreement with Aimers Co to develop the Wendy’s business in China, Korea and Japan and the Gang Ti business in Korea, Japan, Southeast Asia, New Zealand and Australia.
Both initiatives are expected to add further to turnover and profit for the group in the second half of the year.
Global Yellow Pages also owns a shopping centre in Pakuranga, Auckland, which contributed $1.5 million in profit, and Yamada Green Resources, a major supplier of edible fungi in China.
The company said the diversification strategy showed traction in the six months to December 31, with revenue increasing 21.2 per cent to $20.7 million.
The core Global Yellow Pages business is a multi-platform solutions company focusing on search, SME enablement, database marketing and directory publishing.