SINGAPORE – Super Hi International Holding Ltd. (NASDAQ:HDL), operator of Haidilao hot pot restaurants in international markets, reported second quarter revenue growth and a narrowed loss as its business continued to recover.
HDL shares were trading 0.5% higher in Tuesday’s premarket session following the announcement.
The company posted revenue of $183.3 million in Q2 2024, up 12.5% from $163.0 million in the same period last year. Super Hi reported a net loss of $0.1 million for the quarter, improving from a $2.2 million loss in Q2 2023.
Revenue from Haidilao restaurant operations rose 12.3% YoY to $176.2 million, driven by continued recovery in international markets, efforts to increase guest visits and table turnover rates, and ongoing business expansion.
The company’s total table turnover rate increased to 3.8 times per day, up from 3.3 times per day in the year-ago quarter. Total guest visits grew 14.3% YoY to over 7.2 million. Same-store sales growth was 6.6%.
“Our efforts yielded tangible results, with our table turnover rate increasing to 3.8 times per day, up 0.5 times per day from the same period of last year,” said CEO Yang Lijuan.
Super Hi opened 4 new Haidilao restaurants and closed 1 underperforming location in Southeast Asia during Q2, bringing its total restaurant count to 122 as of June 30, 2024.
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