Golden Gate - the operator of Kichi Kichi, Gogi House, Manwah, Kpub - set a revenue target this year equivalent to last year but net profit decreased by nearly 75%.
This year's business plan was outlined by Golden Gate Group Corporation in documents for the annual shareholders' meeting, scheduled to be held later this month.
Accordingly, this year, the operating unit Kichi Kichi, Gogi House set a revenue target of nearly 6,900 billion VND, down more than 1% compared to last year. However, net profit is expected to reach only over 167 billion VND, down nearly 75%.
Golden Gate did not elaborate on its business plan for this year. However, from its operational orientation, the chain is aiming to expand its scale, including both existing chains and new product lines. The cost of this process may be the reason for lower profits than the same period last year.
This year, Golden Gate said it will continue to focus on developing and expanding its nationwide restaurant network, exploiting the strengths of its key brands and developing new brands and business segments. At the same time, the company will continue to build a corporate governance system and apply technology to optimize operations.
Previously, in 2022, Golden Gate entered new business segments such as providing meals at Bach Mai Hospital. Earlier this year, the chain poured nearly VND90 billion into Tay Ho - Vinh Phuc Investment Company Limited to invest in a soup and ice cream factory.
In 2022, with the return of the economy and demand for dining, Golden Gate said there has been a strong recovery.
Full-year revenue reached more than VND 6,900 billion, more than double that of 2021. After-tax profit reversed from a loss of VND 430 billion in 2021 to a profit of VND 659 billion in 2022. Compared to the period before the Covid-19 pandemic, this chain has regained double-digit growth, with a compound growth rate of revenue in the 2019-2022 period of about 13%.
Established in 2005, Golden Gate is a famous business with a chain of restaurants in Vietnam with many culinary branches including hot pot, grill, Asian dishes, European dishes and coffee shops. This business owns more than 20 brands such as Kichi Kichi, Gogi House, Manwah, Kpub, iSushi, Hutong, Sumo, Vuvuzela, The Coffee Inn... The company itself announced that it has nearly 400 points of sale, serving more than 18 million customers each year.
Minh Son
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