The first T&T Star­bucks is ex­pect­ed to open by the end of the third quar­ter of this year, with an oth­er two by the end of the fi­nan­cial year.

Plans for the es­tab­lish­ment of out­lets of the Amer­i­can cof­fee com­pa­ny and cof­fee­house chain were an­nounced by chair­man of Pres­tige Hold­ings Lim­it­ed Chris­t­ian Mout­tet when the restau­rant man­age­ment chain pub­lished its fi­nan­cial re­sults for the first half of 2016.

Star­bucks, which was found­ed in Seat­tle, Wash­ing­ton in 1971, cur­rent­ly op­er­ates 23,768 lo­ca­tions world­wide.

"Sig­nif­i­cant work is un­der­way for the es­tab­lish­ment of this brand in the Trinidad and To­ba­go mar­ket," Mout­tet said.

The lat­est fi­nan­cial re­sults for Pres­tige Hold­ings, which were post­ed to the T&T Stock Ex­change yes­ter­day, show that for the first half of 2016, group rev­enue in­creased by two per cent to $478 mil­lion. How­ev­er, prof­it at­trib­ut­able to share­hold­ers de­creased by four per cent to $23 mil­lion, from $23.9 mil­lion in 2015.

Earn­ings per share were 37 cents, five per cent what was earned for the same pe­ri­od in 2015.

Mout­tet said the re­sults were gen­er­at­ed from an av­er­age num­ber of 113 restau­rants.

"Per­for­mance in the sec­ond quar­ter was mixed with our KFC and Piz­za Hut brands show­ing greater re­silience to the eco­nom­ic head­winds, for­eign ex­change chal­lenges and a per­sis­tent­ly dif­fi­cult labour en­vi­ron­ment; and our TGI Fri­days and Sub­way brands less so," he said.

"De­spite these macro-eco­nom­ic fac­tors, we rec­og­nize that there are op­por­tu­ni­ties for im­prov­ing the per­for­mance of these brands and we are fo­cused on do­ing so."

Mout­tet said the new Piz­za Hut restau­rant at South Park in San Fer­nan­do, which opened at the end of the quar­ter, has been well re­ceived.

"As men­tioned in the first quar­ter, our goal re­mains to de­liv­er im­proved re­sults in this fi­nan­cial year," he said.