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Formosa International profit rises on F&B sales
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FIH aims to continue tapping takeout business as consumers have changed
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Sit back and relax in Taiwan
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Travel, Tourism & Hospitality Sit back and relax in Taiwan
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Formosa International Hotels Corp (FIH, 晶華國際酒店集團) yesterday said that its board had approved plans to sell all its shares in Domino’s Taiwan to Australia-listed fast-food operator Dominio’s Pizza Enterprises Ltd for US$61.2 million.
The deal, scheduled to be completed in 90 days, would give FIH the financial means to stay competitive and safeguard the interest of employees and shareholders as the hospitality industry at home and abroad is hit hard by the COVID-19 pandemic, the Taipei-based company said.
Domino’s Taiwan operates 157 corporate and franchised stores, and is the second-largest pizza chain in Taiwan.
The local pizza chain generated a net profit