Haidilao International's 2024 Net Profit Helped by Delivery Business

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Haidilao International's 2024 Net Profit Helped by Delivery Business

Dow Jones03-26

By Amanda Lee

Chinese restaurant operator Haidilao International's net profit rose in 2024, driven by higher revenue in its delivery business and other restaurant operations.

Its full-year net profit rose 4.6% to 4.71 billion yuan, equivalent to $649 million, the company said late Tuesday.

Haidilao's full-year revenue rose 3.1% to 42.75 billion yuan.

Revenue for its delivery business rose 20% to 1.25 billion yuan, while revenue from other restaurant operations increased 40% to CNY483.3 million.

The board has recommended a final cash 2024 dividend of 0.507 Hong Kong cents, or 7 U.S. cents, per share.

Looking ahead, the company said that its development initiatives mainly involve strategically pursuing acquisitions of highly-quality assets to further diversify its catering business patterns and customer base.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

March 25, 2025 20:26 ET (00:26 GMT)

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