Ajisen Hong Kong sales plunge

Ajisen Hong Kong same-store sales plunged 10.8 per cent in the three months to June 30.

Sales on the mainland slipped by a more modest 1.8 per cent.

However, the company offered no explanation for the decline when it released basic operating data to the stock exchange yesterday.

The Hong Kong-listed restaurant operator has been reporting difficult trading conditions for several successive quarters. In April, it reported a 4.3 per cent decline in Hong Kong same-store sales, however overall sales were marginally up for its first quarter.

And in March, Ajisen announced it had ended the 2018 fiscal year with fewer restaurants, for the first time in recent years.

Back then, the company said the market in China was over-supplied by restaurants with catering stores reaching 5.81 million last year, a decrease of about 3.4 per cent (210,000 outlets) on the previous year.

Source: Inside Retail Hong Kong.

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