Pres­tige Hold­ings Ltd (PHL) has an­nounced a de­lay in the pub­li­ca­tion of its 2024 An­nu­al Re­port. In a no­tice on the T&T Stock Ex­change, its share­hold­er PHL said this de­lay is due to un­fore­seen cir­cum­stances.

PHL apol­o­gised for the de­lay and said it an­tic­i­pat­ed pub­li­ca­tion of the 2024 An­nu­al Re­port by April 30, 2025.

Ear­li­er this month, PHL re­port­ed an af­ter-tax prof­it of $15.74 mil­lion for the three months end­ed Feb­ru­ary 28, 2025, a 60.48 per cent in­crease com­pared to the $9.80 mil­lion the restau­rant chain earned for the same pe­ri­od in the pri­or year.

The com­pa­ny achieved a sharp rise in its prof­itabil­i­ty de­spite the fact that its rev­enue in­creased by 0.5 per cent, mov­ing from $341.46 mil­lion in the first quar­ter of 2024 to $343.14 mil­lion in the first quar­ter of its 2025 fi­nan­cial year.

In the re­port on the com­pa­ny’s first quar­ter, Pres­tige Hold­ings chair­man Chris­t­ian Mout­tet said, “Whilst our sales over­all were rel­a­tive­ly flat com­pared to the pri­or year, the group did en­joy a sig­nif­i­cant­ly im­proved bot­tom line per­for­mance, par­tial­ly due to im­proved ef­fi­cien­cies and mar­gins, but large­ly as a re­sult of non-re­cur­ring charges in the pri­or year, that were not re­peat­ed in the cur­rent pe­ri­od.”

He said the charges, which were pri­mar­i­ly re­lat­ed to in­ven­to­ry and em­ploy­ee costs, would have pos­i­tive­ly im­pact­ed the prof­it growth re­port­ed this pe­ri­od and will be mod­er­ate in the com­ing quar­ters.

Pres­tige Hold­ings is the par­ent com­pa­ny of KFC, Piz­za Hut, Sub­way and Star­bucks, Week­enders Trinidad (TGI Fri­days Trinidad), Pres­tige Restau­rants Ja­maica Lim­it­ed (TGI Fri­days Ja­maica), and PHL Guyana Inc (Star­bucks Guyana).

Al­so this month, PHL in­vest­ed in one of its brands, Sub­way, with new restau­rant de­signs at sev­er­al lo­ca­tions.

Sub­way said on the heels of the re­lo­cat­ed and re­designed In­de­pen­dence Square restau­rant, comes the re­launched Diego Mar­tin lo­ca­tion at West Bees Shop­ping Plaza.

The restau­rant re­design in­cludes bold and unique brand el­e­ments as well as new equip­ment, colour­ful fur­ni­ture, and dig­i­tal menu screens, it said. The to­tal in­vest­ment of TT$1.6M is ex­pect­ed to go a long way in adding to guest ex­pe­ri­ence and con­ve­nience.

“Over the next 3 years, the plan is to reim­age the ma­jor­i­ty of restau­rants in Trinidad & To­ba­go. The new Glob­al FRESH For­ward de­sign will be adapt­ed as we ful­fil con­trac­tu­al oblig­a­tions to re-im­age our restau­rants,” said Jo­hann Men­doza, brand VP at Sub­way. PHL added that the re­designed restau­rant was of­fi­cial­ly launched on April 14 with a brief rib­bon-cut­ting cer­e­mo­ny and brand ac­ti­va­tion at the lo­ca­tion.