The company predicts its costs will increase by US$15 million (HK$120 million) annually when the new minimum wage takes effect. The company employs 16,000 people.
"We expect that rising costs in food materials, rent and labour may result in a decrease in earnings next year," the Post quotes Chairman Michael Chan Yue-kwong as saying.
According to Chan, the company would slash expenditure by deploying automated systems, sourcing raw materials globally and enhancing central processing productivity.
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