Restaurant group Café de Coral, who are Hong Kong-listed, are planning to grow significantly in the Greater Bay Area of Mainland China.
The growth comes as it seeks to mitigate lacklustre sales within its home market that has been brought on by pandemic-related restrictions on cross-border movements and social distancing.
The company is the operator of casual-dining restaurants under the Shanghai Lao Lao, Mixian Sense, The Spaghetti House and Oliver’s Super Sandwiches brands as well as fast-food chains under the Café de Coral and Super Super Congee & Noodles brands.
Chairman Sunny Lo said the company countered long dine-in restrictions at its restaurants during the pandemic by accelerating investment in technology to capture more takeaway and delivery business.
“These measures, combined with relaxed social-distancing restrictions, led to improved revenue in the second half of the financial year,” Lo said. “Building on a solid foundation in Hong Kong, we will continue to tap into significant growth opportunities in the Greater Bay Area – creating sustainable value for our investors, partners, customers and staff. The group will actively seek to penetrate residential areas in Tier 1 cities, while expanding our presence in Tier 2 and 3 cities.”
