Hot pot operator Super Hi bounces back with $37.7m profit in Q3
The group attributed the growth to ongoing expansions and improved guest visits.
Hot pot restaurant operator Super Hi International Holding Ltd reported a net profit for the period of $293.35m in the third quarter of 2024, up from $1.4m loss in the same period last year.
The group attributed the growth to an increase in revenues driven by ongoing business expansion, efforts to increase guest visits and table turnover rate, improvement in operational efficiency, and an increase in net foreign exchange gains of $34.6m compared to the same period of 2023.
For Q3, Super Hi reported an increase in same-store sales of 5.6%. Revenue was $198.6m representing an increase of 14.6% from $173.3m in the same period.
Total table turnover rate was 3.8 times per day, compared to 3.7 times per day in the same period of 2023. Had over 7.4 million total guest visits, representing an increase of 4.2% from 7.1 million in the same period of 2023.
Super Hi operates Haidilao hot pot restaurants in the international market. As of 30 September 2024, Super Hi has 121 Haidilao restaurants internationally, six of which are in Australia.
The brand has over 1,300 restaurants in China alone.
