SHAKEY’S Pizza Asia Ventures Inc., the casual- dining pizza chain owned by the Po family, said it had a recurring net-income growth of 14 percent last year to P762 million, from the previous year’s P669 million, on higher revenues and store-network expansion.
Systemwide sales also surged 14 percent year-on-year to P8.3 billion, from the previous year’s P7.3 billion, on the back of same-store sales growth of 5 percent, also higher than the previous year’s 4-percent rise.
The company, which owns the Shakey’s brand in the region, ended the year with 24 new stores opened, ahead of its earlier target of 20. This brought total Philippine store network to 208 by the end of 2017.
“Our strong top-line performance, underpinned by healthy same-store sales growth and record new store openings last year, demonstrates the strength of the Shakey’s brand even in a highly competitive environment,” said Vicente Gregorio, the company president and CEO.
Total revenues grew 16 percent to P7 billion for the year, from the previous P6 billion.
In terms of profitability, the company’s gross profit grew 12 percent year-on-year and 19 percent for earnings before interest, depreciation and amortization (Ebitda).
These translated to margins of 29 percent and 20 percent at the gross profit and Ebitda level, respectively, it said.
“Despite higher raw-material prices and the current inflationary environment, synergies realized post-acquisition of the Century Pacific Group, inventory strategies, and various operating efficiencies have supported our above-average margins and allowed us to invest in capability-enhancing initiatives,” Gregorio said.
For 2018, the company earlier announced plans to open another 20 new stores in the Philippines, which will bring its nationwide store count to 228 at the end of this year.
“Aside from opening several new stores in locations outside of typical first-tier cities, we are also upgrading the look and feel of existing stores to enhance our guests’ dining experience. Parallel to these activities meant to strengthen our dine-in presence, we are, likewise, beefing up delivery systems to support our guests’ growing need for convenience,” he said.
“While we face a tougher comparable period during the early part of this year, with Filipinos’ consumer confidence high, coupled with the various initiatives we have lined up, we are looking forward to another banner year in 2018.”