Cafe de Coral get it. People expenses up 7% year on year
The decline in profitability of our Hong Kong operations for the period was due in large part to the
investment we made in people for our quick service restaurant (QSR) business, the Group’s core
business. This was necessary for attracting and retaining talent in a highly competitive labour market
as well as for our continuing business development in the sector. Our investment in people resulted in
significant improvements in our staff retention rate, although it also led to increases in manpower
expenses during the review period that were higher than the pace of our revenue growth.