Super Hi International reports second-quarter revenue rise, shares higher from Investing.com

SINGAPORE – Super Hi International Holding Ltd. (NASDAQ:HDL), operator of Haidilao hot food restaurants in international markets, reported a rise in second-quarter revenue and a narrow loss as business continued to recover .

Shares of HDL traded 0.5 percent higher in Tuesday’s premarket session after the announcement.

The company posted revenue of $183.3 million in Q2 2024, up 12.5% ​​from $163.0 million in the same period last year. Super Hi reported a net loss of $0.1 million for the quarter, improving from a loss of $2.2 million in Q2 2023.

Haidilao restaurant operating income increased 12.3% year-over-year to US$176.2 million, driven by continued recovery in international markets, efforts to increase guest visits and dining turnover rates, and continuous business expansion.

The company’s total table turnover rate increased to 3.8 times per day, up from 3.3 times per day in the year-ago quarter. The total number of guest visits increased by 14.3% compared to last year to more than 7.2 million. Same-store sales growth was 6.6%.

“Our efforts have yielded tangible results, with our table turnover rate increasing to 3.8 times per day, up 0.5 times per day from the same period last year,” said CEO Yang Lijuan.

Super Hi opened 4 new Haidilao restaurants and closed 1 underperforming location in Southeast Asia during the second quarter, bringing the total number of restaurants to 122 as of June 30, 2024.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.