Bangkok--15 May--Minor International PCL
Minor International's (MINT) 1Q07 revenues increased by 15% YoY to Baht 3,674 million and net profits were up 7% YoY to Baht 450 million. Despite declining domestic consumption and social unrest in several of Thailand's southern provinces, In 1Q07, MINT's food and hotel businesses proved resilient achieving strong comparable sales growth while opening 13 additional restaurant outlets and two new hotels.
In 1Q07, Minor Food Group's (MFG) revenues increased by 15% YoY to Baht 1,666 million. MFG achieved 4% and 19% YoY increase in same store sales and total system sales, respectively and added 13 new restaurant outlets (system-wide) in 1Q07.
Bombings/explosions at some of Bangkok shopping centers during the New Year's celebrations combined with unrest in several of Thailand's southern provinces have affected the Thai tourism industry. Haze caused by deforestation along Thailand's border with Laos and Myanmar also resulted in a decline in visitors to Thailand's northern provinces. Despite these challenges, MINT's 1Q07 hotel revenues were up 12% YoY to Baht 1,499 million as overall average revpar increased by 19% YoY to Baht 4,771. In 1Q07, MINT opened the Four Seasons resort in Samui and the ultra exclusive Naladhu resort in the Maldives.
Minor International (MINT) is Thailand's largest food service operator with 644 outlets system wide under The Pizza Company, Swensen's, Sizzler, Dairy Queen, Burger King, and LeJazz brands. It is one of Thailand's leading hotel operators with a portfolio of 15 hotels and over 2,300 rooms under the Marriott, Four Seasons, Anantara, and Minor International brands in Thailand, the Maldives, and Vietnam. Through a joint venture with Marriott International, it has developed the 144 room Marriott Vacation Club Time Share in Phuket. MINT is also one of the largest spa operators in the Asia Pacific region with more than 20 spas in Thailand, China and the Middle East under the Mandara, the Spa and Anantara brands. For more information, visit www.minornet.com