Meishi-KY's Q2 Earnings Per Share Hit 5-Year High of NT$1.88

Meishi-KY, the company behind the 85°C bakery cafe chain, announced a strong second quarter with earnings per share reaching NT$1.88. This figure marks a five-year high for the company, which has seen significant growth in its first half. Overall earnings per share for the first half of the year climbed to NT$3.19, a more than 70% increase compared to the previous year.

Despite a 11.03% decrease in consolidated revenue in the first seven months of the year, totaling NT$9.647 billion, the company's performance is being bolstered by its international operations. The United States now accounts for 58% of Meishi-KY's revenue, with plans to expand its store count to 100 by the end of the year, further increasing its contribution to 60%.

In contrast, the Chinese market's contribution to revenue has significantly shrunk to 22%, with fewer than 300 stores remaining as of July. This reduction follows a strategic closure of underperforming outlets. However, the company noted that the daily average sales per store in China's directly operated locations have improved compared to the previous year, suggesting a positive outlook for profitability in that region.

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Meishi-KY today announced its second-quarter earnings per share of NT$1.88.