Chairman's Message

Last year marked Café de Coral’s 50th Anniversary. Reaching this milestone has been cause for celebration with our staff and business partners, yet it also represents a new beginning for our business as we look to the next 50 years.

The results achieved during the year under review indicate clear improvement in performance and customer experience, as well as a positive trend in all areas of operations.

Our philosophy towards development is driven by a long-term view, and is inspired by a belief that development cannot be rushed, yet it cannot be slow. While a succession team and sustainable growth take time to nurture, it is important the business maintains forward momentum while adapting to the environment.

A SUCCESSFUL 50th YEAR

In Hong Kong fast food, our ongoing programme focused on internal enhancement and tighter cost control continued to deliver measurable results. At the same time, the casual dining business benefitted from lessons learned to achieve stronger performance.

The China market – and in particular the Greater Bay Area – was a key driver of growth for the Group during the past year. Over the past 50 years, our business has organically grown outward from Hong Kong to include key neighbouring cities and regions, which cover largely the same footprint as the official Greater Bay Area region.

In expanding from our home market, Café de Coral’s network in Mainland China has naturally focused on the Greater Bay Area – building on our knowledge of customers, markets, property and supply chain logistics. This has allowed us to grow at a comfortable pace, confident in our ability to maintain our high standards of quality, cleanliness and service throughout our network.

As always, our people are our most important business advantage. To this end, we have been investing in our human capital – nurturing internal talent and making key external hires when necessary to build the quality of our team. With measurable gains achieved, the Group is looking to round off further investment in external talent for the time being, and will refocus on improving management bench strength through internal training and development.

CLEAR VISION FOR THE FUTURE

As Chairman, my role in the business is to provide guidance for the senior management team when necessary, while giving them the space to learn, innovate and execute to the best of their own talents and abilities. At the same time, strong communication and positive interaction between the Board and the management team are important to maximise the effectiveness of the business. 

Focusing on the future business environment, technology will continue to be a key differentiator – both in our home market of Hong Kong, as well as throughout the Greater Bay Area. Whether automating mobile ordering, payment or take-out and delivery, e-channels now represent a significant portion of our business, which will only grow as time passes.

Looking to the year ahead, we remain confident in continued positive growth. Building on the Customer Journey as our guide to long term improvement, we remain assured in our prospects for steady, sustainable growth – maintaining our market leadership in Hong Kong while supporting the growth of the industry throughout the region.

As a Group, one of Café de Coral’s key business strengths has been our intimate understanding of our market and our customers, our human capital and our distinctive corporate culture. We have grown together with Hong Kong for 50 years, and look forward to serving as “Hongkonger’s Canteen” for generations to come.
 

ACKNOWLEDGEMENTS

At this point, I must thank our former Executive Director Ms Lo Pik Ling, Anita for her selfless dedication and countless contributions to the Group. Under her guidance, the quick service restaurant business has maintained a healthy leadership position in the Hong Kong market, while establishing a solid foundation for continued, sustainable growth.

I would also like to thank our Board of Directors, business partners, staff, investors and customers for growing together with our business over the past decades. With all the key ingredients in place for the next 50 years of growth, I remain strongly confident in the Group’s prospects for the future.

Lo Hoi Kwong, Sunny
Chairman

Hong Kong, 14 June 2019

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