Super Hi International Holding Ltd Reports Strong Financial Growth for Q3 FY2024
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Super Hi International Holding Ltd. Reports Strong Financial Growth for Q3 FY2024
Super Hi International Holding Ltd. (NASDAQ: HDL), a leading Chinese cuisine restaurant brand known for its Haidilao hot pot restaurants, has announced its unaudited financial results for the third quarter of FY2024, which ended on September 30, 2024.
Key Financial Metrics
| Metric | Q3 FY2024 | Q3 FY2023 | YoY Change |
|---|---|---|---|
| Revenue | $198.6 million | $173.3 million | +14.6% |
| Income from Operations | $14.9 million | $9.8 million | +52.0% |
| Profit for the Period | $37.7 million | ($1.4) million | N/A |
| Earnings per Share (EPS) | $0.06 | Approximating Nil | N/A |
Super Hi's revenue for Q3 FY2024 showed robust growth, increasing by 14.6% year-over-year. The substantial improvement in income from operations, up 52% from the previous year, highlights the company's enhanced operational efficiency and successful cost management. Profits turned positive, climbing to $37.7 million due to increased revenue and a significant net foreign exchange gain.
Revenue Performance by Segment
| Segment | Q3 FY2024 Revenue | Q3 FY2023 Revenue | YoY Change |
|---|---|---|---|
| Haidilao Restaurant Ops | $190.9 million | $166.7 million | +14.5% |
| Delivery Business | $2.6 million | $2.4 million | +8.3% |
| Other Business | $5.1 million | $4.2 million | +21.4% |
Haidilao restaurant operations, as the major revenue driver, showed a strong 14.5% increase, reflecting the brand's market expansion and elevated customer experience. The delivery and other business segments also contributed to this growth, showing increases due to strategic partnerships and the rising popularity of branded food products.
Key Developments and Operational Highlights
- Maintained stable restaurant footprint with 121 Haidilao restaurants.
- Recorded a same-store sales growth of 5.6%.
- Enhanced operational efficiencies and improved supply chain management.
Executive Commentary
CEO & Executive Director Ms. Yang Lijuan highlighted the company's strategic focus on bolstering brand influence and enhancing operational execution. She attributed the company's growth to strategic initiatives in supply chain optimization, innovative product development, and digital transformation to improve restaurant performance.
Dividend Announcements
The earnings release did not provide information on any announced dividends or share repurchase programs.
Forward Guidance
There was no specific forward guidance stated in the earnings release.
Stock Price Movement
Following the earnings release, HDL's stock saw a slight decline, falling by approximately 1.15%.
In summary, Super Hi International demonstrated strong financial and operational performance in the third quarter of FY2024, marking a successful period of growth driven by strategic initiatives and robust segment revenues. The absence of clear forward guidance leaves some anticipation in the market regarding future prospects.
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