SHAKEY’S PIZZA Asia Ventures, Inc. saw its attributable net income increase by 31.3% to P228.22 million for the second quarter from P173.88 million last year, driven by systemwide sales growth.
In a stock exchange disclosure, the company reported P3.77 billion in gross revenues for the second quarter, up by 52.6% from P2.47 billion a year ago.
“With dine-in back to pre-pandemic levels, we saw an influx of celebrations across all our stores despite an inflationary environment. Supported by the wide scale of our full-service restaurants and kiosks network, our guest-centric approach of providing accessibility and enhanced brand value resonated well with our guests, leading to a robust, volume-led growth,” Vicente L. Gregorio, president and chief executive officer of Shakey’s, told the stock exchange on Monday.
He said the company’s strong performance for the period was driven by a rise in foot traffic due to “special celebrations” recently.
For the first six months, the company posted an attributable net income of P489 million, marking a 95.5% growth from P250.11 million in the same period last year.
Its revenues for the January-to-June period jumped 69.2% to P6.92 billion from P4.09 billion, year on year.
The company attributed its robust first-half performance to the systemwide sales increase, which went up by 51% to P8.8 billion. It said it also benefited from same-store sales, posting 27% growth.
“Moreover, we’ve continued building new stores and outlets across our brands, leveraging the strength of our portfolio to reach more guests. We are pleased to share that these new stores and outlets are performing better than expected and proving to be accretive to the business,” Mr. Gregorio said.
Its expansion program for the period also boosted its revenue growth, the company said, adding that it opened 164 new stores and outlets during the six-month period.
Mr. Gregorio said the company’s first-half performance “underscores our unwavering pursuit of sustainable growth.”
“We have spun a culture where guest-centricity, cost discipline, and operational efficiency are deeply ingrained in our people. Coupled with our diversified multi-brand portfolio, we are able to leverage our competitive advantage in full-service restaurants and benefit from productivity gains and synergies from our vertically-integrated operations more effectively,” he added.
At the local bourse on Monday, shares in the company declined by 10 centavos or 1.06% to end at P9.35 each. — Ashley Erika O. Jose
