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Clients eating in a Kichi Kichi restaurant, a model of Golden Gate. Photograph courtesy of the corporate
Golden Gate, proprietor of well-liked restaurant chains like Kichi Kichi and Gogi Home, made its first ever losses final yr and attributed it to the impacts of Covid-19.
It reported a lack of VND430 billion (US$18.8 million) on revenues of VND3.32 trillion, down 27 % from 2020.
The gross revenue margin declined by 1.5 share factors to 58 %.
The corporate mentioned it lower fastened prices however not sufficient to offset the income stoop, whereas monetary bills greater than doubled as a result of curiosity.
It borrowed VND370 billion from VietinBank final yr, and issued VND488 billion value of bonds.
Golden Gate chairman Dao The Vinh mentioned the F&B sector was badly hit by the autumn in demand as a result of Covid.
However the scenario has been steadily enhancing for the reason that fourth quarter of 2021, he mentioned, including the variety of prospects in December was up eight instances from three months earlier to 1 million.
Based in 2005, Golden Gate was one of many first gamers in Vietnam to launch restaurant chains.
It at the moment owns over 20 manufacturers and practically 400 retailers throughout the nation, and serves 18 million prospects yearly.
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