Friday, May 15, 2009
Fairwood Holdings purchased
Yesterday I added Fairwood Holdings (52) to the portfolio paying an average of HK$6.65 per share. The restaurant chain offers a high yield (about 9%), although I am not convinced that this will be fully sustainable. However, given that restaurant takings rose slightly in the first quarter, Fairwood has a well established brand in the low cost end of the market place, and a balance sheet which is not overly leveraged, I am comfortable that this will provide a yield comfortably above my expected 5%.