Peking duck restaurant profits decline worsens

Half-year net profits for Quanjude, China's first listed restaurant chain well-kown for its specialty of roast duck banquets, plunged 31.6 percent year-on-year.

The Shenzhen-listed chain's revenue in that period was 850 million yuan ($139 million), a year-on-year decrease of 6.52 percent. Net profit in the first six months hit 61.44 million yuan, a year-on-year decline of 31.6 percent.

The decline was the worst first-half result over the past five years. Quanjude's net profit growth in the first half averaged more than 20 percent from 2009.