Shakey’s Pizza profits jump 58% to P759-M
Shakey’s Pizza Asia Ventures Inc. reported a 58-percent increase in its consolidated net income last year to P759 million with the strong performance from all its business segments.
In a disclosure to the stock exchange, Shakey’s Pizza Asia Ventures attributed its strong performance to stronger sales, an expanded store network, and improved profitability. The company said its performance last year included a P90.3-million one-off gain.
The company’s revenues totalled P5.9 billion, P5.7 billion of which came from its restaurants. Revenues from franchise and royalty fees amounted to P206.9 million, and revenues from its commissary amounted to P110.7 million.
Shakey’s Pizza Asia Ventures operates a total of 184 stores nationwide, including company-owned and franchise stores.
Citing Euromonitor, the company said it is the market leader in pizza full service restaurant chains with a 57.7-percent market share. The company went public only last December.