Tai Hing Group (HKG:6811) expects profit attributable to owners for the six months ended June 30 to rise to between HK$40 million and HK$45 million, compared with HK$10.7 million a year earlier, according to a Monday Hong Kong bourse filing.

It attributed the increase to a net gain of six stores, the launch of a new brand, seven store renovations, and continued cost controls that reduced manpower and rental expenses as a share of revenue.

Shares of the restaurant operator gained over 3% in recent trade.