Thai Minor sees Chinese food ops in profit in 2013
BANGKOK Jan 9 (Reuters) - Thai hotel and fast-food chain operator Minor International Pcl said on Wednesday it expected its loss-making food operations in China to make a profit this year thanks to income from recently acquired restaurant chain Riverside & Courtyard.
Riverside, a barbecue fish specialist, is expected to post revenue of 1.2 billion baht ($39 million) this year, Chairman and Chief Executive William Heinecke told reporters.
The number of Minor's food chain outlets is expected to rise to 2,400-2,500 over the next five years, versus 1,304 at the end of the third quarter of last year, Heinecke said
Minor runs Burger King, Dairy Queen and The Pizza Company outlets across Asia and competes with the likes of Yum Brands Inc and Central Plaza Hotel Pcl.
On Tuesday, Corporate Chief Financial Officer Trithip Sivakriskul told Reuters Minor planned to spend at least 40 billion baht ($1.3 billion) through 2017 on expansion and acquisitions.
($1 = 30.46 Baht) (Reporting by Saranya Suksomkij; Writing by Khettiya Jittapong)
- Atheists face death in 13 countries, global discrimination: study
- Pope attacks mega-salaries and wealth gap in peace message
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Missouri executes man for killing good Samaritan motorist in 1994
- Thai military chief rebuffs meeting request in blow to protesters |