Three more Starbucks stores are to be opened in Guyana, according to the Chairman of Prestige Holdings, Christian Mouttet.
The Trinidad Guardian yesterday reported him as making the announcement as he reported on the performance of Prestige Holdings Limited.
The company is the Trinidad operator of popular international franchises including KFC, Pizza Hut, Subway, Starbucks, and TGI Fridays.
Mouttet told the Trinidad Guardian that the company was seeking more expansion opportunities outside of T&T.
He said, “The second TGI Fridays restaurant in Portmore, Jamaica, which opened in the first quarter, is performing well. In addition, management is making good progress to launch Pizza Hut in Panama, and we expect to open our two new Pizza Hut restaurants in Panama in the fourth quarter. Our two Starbucks Cafes in Guyana are performing strongly, and …we also have plans to open three new Starbucks cafes in Guyana before the end of the year.”
The chairman’s report confirmed that on June 23, 2026, Agostini Limited’s takeover of Prestige Holdings Limited formally closed having achieved all necessary regulatory and shareholder approvals.
Increased supplier costs, NIS contributions as well as foreign exchange constraints put a major dent in Prestige Holdings profits for the six-month period ended May 31, 2026, the Trinidad Guardian reported.
According to the restaurant management company’s financial report for the half year, profit attributable to shareholders for the period six-month period slid by 45.7 per cent, falling to $18.9 million in 2026, from $34.8 million for the same period in 2025.
Mouttet noted the restaurant management company had seen increased sales volumes with revenue increasing by 1.3 per cent to $716 million compared to $707 million in the previous year, but a series of increased expenses impacted Prestige’s profits.
Mouttet said, “Notably, increased foreign exchange costs to settle foreign payables by accessing alternative currencies and currency swaps through the banking system at rates that were much higher than our inputs were originally costed, increased National Insurance contributions and increases in costs from local suppliers.”
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