Shakey’s Pizza Asia Ventures of the Po family expects faster growth in the remainder of the year after seeing an 18-fold increase in its profit in the first six months as systemwide sales exceeded pre-pandemic levels.
The listed fast casual restaurant chain and food service group registered a net income of P250 million from January to June, a huge leap from last year’s P14 million. This was achieved on the back of a 77 percent jump in systemwide sales to P5.8 billion.
Same-store sales improved by 23 percent on strong growth across all brands.
Vicente Gregorio, president and CEO of Shakey’s, said the company has started reaping the benefits of its investments in the expansion of its store network and portfolio.
He expects growth momentum to accelerate in the second half, especially with the resumption of face-to-face classes and the seasonality impact of the fourth quarter holidays.
“With Potato Corner fully onboard, synergies in our ecosystem, structural changes implemented, and the continuous pursuit for new sources of efficiencies, we have a full armada that will bring our 2022 bottomline close to pre-pandemic levels,” Gregorio said.