Wednesday , May 31 2023

Restaurant operator Golden Gate back in the black with record profit

Restaurant operator Golden Gate has reported record profits of VND659 billion (US$27.9 million) for 2022, making a spectacular turnaround after making losses of VND430 billion the previous year.

It operates over 20 restaurant and café brands like Kichi Kichi, Gogi House, Manwah, Kpub, iSushi, Hutong, Sumo, Vuvuzela, and The Coffee Inn.

Golden Gate reported a doubling of revenues to VND6.97 trillion.

The company, established in 2005, plans to open 600 restaurants and coffee shops in the near future, increasing their total numbers to 1,000.

Earlier this year it invested VND90 billion in a lemon juice and ice cream making plant.

iPOS, a platform that provides sales solutions to more than 100,000 restaurants and coffee shops, quoted British market research firm Euromonitor as saying the Vietnamese food and beverage market was worth VND610 trillion in 2022 after growing by 39% during the year.

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