McDonald’s Philippines draws double-digit sales growth in 2017
McDonald’s Philippines just had a good year, posting double-digit sales growth in 2017 after ramping up expansion.
To be specific, McDonald’s said system-wide sales improved by 14 percent to P42.6 billion on the back of new store openings. The company particularly opened 52 new stores last year.
“By opening more new restaurants, we will be able to generate jobs and provide world-class training for thousands of young Filipinos,” Kenneth Yang, president and CEO of McDonald’s Philippines, said in a statement.
“We also enhance economic activity in areas where we will be present,” he added.
In 2017, the company spent P3.5 billion in capital expenditures to open new stores.