Steakhouse giant Seagrass sees profit boom after new owner wipes debt (opens original article in a new tab)

Seagrass Boutique Hospitality saw a significant profit increase after its new Japanese owner improved its financial stability, despite challenging consumer conditions.

• Seagrass Boutique Hospitality reported a $16.4 million profit for the nine months to March 31, up from $2.9 million in the previous 12 months
• New Japanese owner Colowide helped improve the business's financial position
• The company defied gloomy consumer sentiment