Summary: Super Hi International, the operator of Haidilao’s international business, reported a net profit of US$11.9 million for the first quarter, reversing a loss from the same period the previous year. The turnaround was driven by a reduction in net foreign exchange losses and a 5.4% increase in revenue, primarily from the delivery business. Despite the positive profit, operating income fell due to higher spending on customer and employee benefits, outsourcing, and lease payments.

Link: https://www.straitstimes.com/business/companies-markets/haidilao-operator-super-hi-swings-to-15-3-million-q1-profit-on-forex-gains-more-delivery-business