Trinidad and Tobago: Prestige Holdings Reports $59.2 Million in Profits

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Prestige Holdings Ltd, which operates well-known franchises such as KFC, TGI Fridays, Starbucks, Subway, and Pizza Hut, has announced a profit of $59.2 million for the nine-month period ending August 31, 2025. This profit marks an increase of over $10 million compared to the $49 million profit recorded during the same period in the previous year. The financial results were made available on the Trinidad and Tobago Stock Exchange website on September 30.

In his report, Prestige Holdings chairman Christian Mouttet highlighted that group sales increased by seven percent, rising from $1.009 billion in 2024 to $1.075 billion in 2025. Additionally, profit before tax saw an 18 percent increase, climbing from $73 million in 2024 to $86 million this year. Mouttet attributed the positive performance to improvements in customer experience, strong value offerings, and operational efficiencies.

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For the three-month period ending August 31, the company reported profits after tax of $24.1 million, which is a slight increase from $23.9 million in the same quarter last year. Revenue for this quarter reached $368 million, up from $354 million the previous year.

The financial report comes on the heels of Agostini Ltd’s recent acquisition of Prestige Holdings through a share swap, achieving a minimum acceptance level of 96.9 percent of shares. Mouttet noted that final approvals from the Fair Trade Commission are still pending.

During the third quarter, Prestige completed a significant remodel of a Subway restaurant located in St James and constructed a second TGI Fridays in Portmore, Jamaica, which is set to open in the fourth quarter. The company also has plans to open four new Starbucks cafes and a new Pizza Hut restaurant, as well as expand its operations into Panama under a development agreement with Pizza Hut International.

In a separate announcement, Agostini Ltd appointed Jorge Sequeira Picado as a director effective October 1. Picado is the managing director of Basalto Capital Partners in Costa Rica and has held various leadership roles in investment promotion and enterprise software development.