Minor International Plc, a hotel, restaurant and fashion group, reported a 7.32% rise in 2014 net profit to 4.4 billion baht on revenue of 39.79 billion baht, up 8% from the previous year.
Net profit for its hospitality business rose 9% year-on-year on improved performances, especially among its Thai upcountry and overseas hotels, which offset its Bangkok hotels' shortfall. Revenue per available room grew by 3% over 2013, the company said in a statement on Monday.
Its hotel brands include Anantara, Avani, Oaks, Marriott, and Four Seasons.
In 2014, its restaurant business, which includes The Pizza Company, Swensen's, Sizzler, Dairy Queen and Burger King, delivered a 3% year-on-year increase in net profit. Sales increased by 13.1% as a result of 0.4% same-store-sales growth and the addition of 164 new outlets.
Its retail trading and contract manufacturing business, which includes Gap, Esprit, Bossini, Charles & Keith, Red Earth and Tumi brands, posted a 21% year-on-year increase in net profit, mainly driven by the fashion business.
The Board of Directors also recommended a cash dividend of 0.25 baht per share, together with a stock dividend at the ratio of 10 existing shares to one new common share. The dividend payment is subject to MINT's shareholder approval at the annual general meeting of shareholders to be held on April 3.
MINT shares closed up one baht to 34.75 baht on the Stock Exchange of Thailand on Monday, in trade worth 352.14 million baht.