S&P to sweeten its 50th year with more treats and tidbits
Top Thai restaurant and bakery chain S&P Syndicate is planning to expand its menu to mark its 50th year and to boost profits for the rest of the year.
Despite earning 20% more in the first quarter of this year, the company said that rising production costs, like more expensive ingredients and rising electricity and rental bills, were still affecting profits.
“Production cost is difficult to control,” it said.
The company added that it has made its operations more efficient to mitigate rising production costs, like improving the management of bakery factories, adjusting recipes, seeking new suppliers and relying more on solar cells.
To mark its 50th anniversary, S&P also plans to bring back some 20 old favourites and redesign some 50 dishes to offer customers more alternatives.
“The company will increase the price of some items, though that should not affect the customers much,” it said.
The company said it is also planning to reopen the branches that were forced to close during the Covid-19 pandemic. As of the first quarter of this year, S&P has 466 outlets, 453 of which are in Thailand and 13 overseas.
S&P said the pandemic had had a severe impact on consumers’ lifestyles and the company’s revenue. For instance, it said, its revenue had dropped to 5.7 billion baht last year compared to 7 billion baht in 2019 before the virus brought the world to a standstill.
“Once all branches reopen, our sales should rise to 7 billion baht,” the company said.
However, S&P said it does not expect its sales to return to pre-pandemic levels this year, though it will focus on generating profits.
