Pancake House eyes aggressive expansion
Dining company Pancake House Inc. said Monday it would embark on an aggressive expansion program in the country and in Asia despite high inflation.
Its chairman Martin Lorenzo said the company is putting up three branches of flagship brand Pancake House in Malaysia this year. By 2011, he said the goal is to be able to open between 15 to 20 stores in Malaysia, of which five would be company-owned and the rest to be operated through franchise.
Aside from Malaysia, the company also plans to put up three to five Pancake House outlets in Singapore and one branch of its Japanese food chain, Teriyaki Boy, in Vietnam.
Locally, Pancake House said it would expand in areas near supermarkets and hospitals like St. Luke's Medical Center and Makati Medical Center.
Despite the continued rise in commodity prices, Lorenzo said the company still expects to post a record net profit of P100 million and consolidated revenues of P2.1 billion this year.
Pancake House also owns the brands Dencio's, Le Coeur de France, Pepper Steak and Kabisera.