Business Diversity Pays Dividends At Taste

Business Report:

Feasibility studies had given franchise group Taste Holdings new directions to diversify its business, chief executive Carlo Gonzaga said yesterday.
taste

Moving from fast food franchising into the jewellery franchise NWJ had paid dividends for the group.

The diversification plans were explained by Gonzaga when he released results showing that Taste had more than tripled group revenue and more than doubled operating profit for the year to February.

Revenue rose 303 percent to R136.3 million from R33.7m, while operating profit grew 118 percent to R25.5m from R11.7m in 2007.

The growth translated into a 55 percent boost in headline earnings to R15.4m. Headline earnings a share grew 29 percent to 10c, while earnings per share rose 78 percent to 14c.

Gonzaga attributed the growth to the revamp and conversion programme at 13 stores during the year and the acquisition of NWJ in August. More.

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