Catering firms may see 30% growth this year

Chinese listed catering companies may see their earnings increase about 30 percent this year, thanks to good management techniques and proper cost-control measures, the Guangzhou Daily quoted analysts as saying.

Catering giant China Quanjude (Group) Co Ltd achieved an income of 1.45 billion yuan ($230 million) in the third quarter, up 8.45 percent year-on-year, according to its third-quarter report released on Monday.

Its net profit is expected to hit 142 million to 181 million yuan in 2012, an increase of 10 to 40 percent over last year.

Quanjude's net profit in the third quarter hit 45.53 million yuan, an increase of 22.88 percent year-on-year.

Other catering companies are also expected to post solid results in the third quarter.