Pres­tige Hold­ings Ltd has en­joyed a two per cent in­crease in rev­enue for the first nine months of fis­cal 2016 to $736 mil­lion.

Fi­nan­cial re­sults post­ed to the T&T Stock Ex­change yes­ter­day show that the group's prof­it at­trib­ut­able to share­hold­ers de­creased by 11 per cent from $41.2 mil­lion to $36.6 mil­lion. Earn­ings per share de­creased by 12 per cent.

Chair­man Chris­t­ian Mout­tet, in a note to share­hold­ers, said prof­itabil­i­ty was neg­a­tive­ly af­fect­ed by ap­prox­i­mate­ly $4.5 mil­lion in one-off costs, the ma­jor­i­ty of which were pre-open­ing ex­pens­es di­rect­ly re­lat­ed to the es­tab­lish­ment of the Star­bucks brand in T&T.

He ex­plained: "With­out these costs our re­sults would have been on par with pri­or year. Our re­sults in the third quar­ter, were weak­er when com­pared with pri­or year, pri­mar­i­ly due to a strong third quar­ter in 2015 as a re­sult of the Gen­er­al Elec­tions ac­tiv­i­ties in that pe­ri­od."

Mout­tet said the group's YUM brands, KFC and Piz­za Hut, con­tin­ue to per­form well. Last month, a new KFC restau­rant opened at South Park in San Fer­nan­do. The first Star­bucks restau­rant opened at the same lo­ca­tion at the end Au­gust.

"The launch of the brand in Trinidad and To­ba­go has been well re­ceived, with pos­i­tive feed­back from our cus­tomers on prod­uct qual­i­ty, ser­vice and at­mos­phere," he said.

"Sales at this first restau­rant are per­form­ing above our plan. We will open our sec­ond restau­rant at Movi­etowne in Port-of-Spain at the end of Oc­to­ber, and the third unit will fol­low in Ch­agua­nas be­fore the end of the cal­en­dar year. This new brand is ex­pect­ed to grow our busi­ness and gen­er­ate mean­ing­ful prof­its in the com­ing years."

He said the group's fourth quar­ter 2016 per­for­mance is ex­pect­ed to be sim­i­lar to that of the pri­or year.