China's Little Sheep profits up 20.7% in 2009

Write: Absalom [2011-05-20]

China s Little Sheep profits up 20.7% in 2009

Chinese hotpot restaurant chain Little Sheep has published its annual financial report for 2009, stating that its operating revenue increased by 23.5% year-on-year from CNY1.27 billion to CNY1.57 billion; while its net profit increased by 20.7% year-on-year from CNY129 million to CNY155 million.

The report also said that Little Sheep's sales of individual stores increased by 1.7% in 2009, lower that the 10% growth in 2008; and the average per capita spending of its customers was CNY52.45, decreased by 2.74% compared with the CNY53.93 in 2008.

In 2009, Little Sheep continued to accelerate the expansion of its self-operated restaurants. By December 31, 2009, the company had developed 161 self-operated restaurants, with 34 outlets newly opened during the year, while The number of its franchised restaurants increased from 248 to 293.