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%.
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