Trump prepares for visit by Saudi prince who has rocked the kingdom
| 08:37am
Putin easily wins another six-year term, firms grip on Russia
| 08:11am
Israel bombs Gaza 'underground' complex after blast
| 18 Mar
Abu Dhabi awards France's Total stakes in oil concessions
| 18 Mar
China propaganda kicks into overdrive as "helmsman" Xi re-anointed president
| 18 Mar
Senior graft-buster appointed head of China's new anti-corruption body
| 18 Mar
China says resolutely opposed to new U.S. law on ties with Taiwan
| 18 Mar
Four killed, some trapped as fire hits hotel in Philippine capital
| 18 Mar
Britain accuses Russia of secretly stockpiling deadly nerve agent used in attack
| 18 Mar
Summit ends with rebukes against trade protectionism
| 18 Mar

Food outlets serve up fatter profits

The gross surplus of restaurants and similar establishments in 2016 went up 96 per cent year-on-year to MOP258 million

The restaurant and similar establishments sector saw gross surplus increase by 96 per cent year-on-year in 2016 to MOP258 million (US$32.09 million), according to survey results revealed yesterday by the Statistics and Census Service (DSEC).
The study did not include restaurants and similar facilities directly operated by hotels and gaming establishments or street hawker stalls.
The total amount of receipts collected in 2016 by the restaurant and similar establishments sector increased by 6.5 per cent annually, to MOP10.69 billion, with expenses climbing 5.2 per cent year-on-year, to MOP10.46 billion.

Fighting expenses
Purchase of goods rose by 2.1 per cent yearly in 2016 and represented 36.8 per cent of the total expenses by those in the sector, at MOP3.85 billion.
At the same time expenses paid out on employee salaries increased 9.8 per cent yearly to reach MOP3.77 billion in 2016.
Rent comprised the largest amount of restaurants and similar establishments’ operating expenses in 2016, amounting to MOP1.18 billion, falling 0.5 per cent annually.
Electricity expenses and materials represented the second and third largest operating expenses for the food & beverage sector, with both having increased – by 7.1 per cent and 0.6 per cent yearly to MOP362 million and MOP236 million, respectively, in 2016.
The survey also revealed that the amount the sector contributed to the local economy in 2016 – gross value added – went up by 13 per cent year-on-year to reach MOP4.03 billion.

Chinese domination
The number of restaurants and eating & drinking places recorded in 2016 showed the first decline since 2012, dropping by 20 establishments to 2,189.
However, the number of people engaged in the industry went up by 101, for 32,260 by the end of last year.
When considering cooked-food stalls in municipal markets, some 2,265 food & beverage establishments were registered in 2016, with 32,398 people engaged in their operation.
In 2016, there were 598 Chinese restaurants, bringing in 42.3 per cent of the total receipts registered last year.
In all, Chinese restaurants registered 9.2 per cent more in receipts in 2016 than the previous year, reaching MOP4.53 billion, with gross surplus rocketing 218 per cent yearly to MOP105 million.