Back to list

Wowprime plans wage hike of over 3% next year

2018/11/19 16:39

Taipei, Nov. 19 (CNA) Wowprime Corp., one of Taiwan's leading restaurant companies, is planning to raise wages by more than 3 percent next year, the company's chairman, Chen Cheng-hui (陳正輝), said Monday.

At the company's "weiya," a traditional year-end banquet at which employers thank their employees, Chen said Wowprime fell short this year of last year's earnings but is still planning to give a raise of more than 3 percent to its employees next year.

Wowprime, which owns the Wang Steak chain, also plans to give its employees year-end bonuses equivalent to one month of salary, which while not a big payout will complement performance bonuses company employees have already received this year, Chen said.

In the first three quarters of this year, Wowprime had EPS of NT$3.92, lagging behind NT$5.21 over the same period of last year.

For all of 2017, the company posted NT$6.01 (US$0.19) in earnings per share, compared with NT$4.01 in EPS for 2016.

Chen said Wowprime is currently restructuring its operations, and he believed the company's bottom line will improve next year and possibly see EPS exceed the 2017 figure.

He expects the company, which owns more than 20 brands and operates 430 restaurants in Taiwan and China, to add two to three new brands in Taiwan and two in China in 2019, and recruit an additional 1,500 workers, he said.

(By Jiang Ming-yan and Frances Huang)Enditem/ls