Ramen restaurant chain Ajisen has published its financial report for the first half of 2009 and states that its net profit for the half was up by 12.1%.
According to the report, the company made total revenues of HKD936 million in the Chinese market during the first six months of 2009, a year-on-year increase of 24.3%. The revenue growth was mainly attributed to Ajisen Ramen's network expansion since the number of chain restaurants increased from 255 in the previous year to 350, an increase of 37.3%. The company's operating network currently covers 61 cities in 19 Chinese provinces.
At the same time, the company reported operating profit of HKD157 million, a year-on-year increase of 26.3%; and its net profit was HKD133 million, a year-on-year increase of 12.1%.
Ajisen Ramen said that, to support the rapid expansion of its chain restaurants, the company's four new manufacturing bases in Shanghai, Tianjin, Dongguan, and Chengdu have been completed or are under construction. The Dongguan project was put into production in the fourth quarter of 2008; the Shanghai project will start in the fourth quarter of 2010; and the manufacturing bases in Chengdu and Tianjin will be completed in the second half of 2010 and in 2011 respectively.