Shakey’s exceeds pre-pandemic sales in first half, net income up 18-fold

ABS-CBN News

Posted at Aug 10 2022 03:29 PM

MANILA - The operator of Shakeys Pizza restaurant chain and several other food brands said systemwide sales hit P5.8 billion in the first half of 2022, up 77 percent from the same period in 2021.

Shakey’s Pizza Asia Ventures (PIZZA) said first half systemwide sales have already surpassed pre-pandemic levels, while same-store sales booked a year-on-year growth of 23 percent for the period.

The company said net income also ballooned 18-fold to P250 million, from last year’s P14 million. 

“The robust performance follows a strong Philippine economic reopening during the first half of the year, resulting in the resurgence of dine-in sales. All brands posted strong growth for the period,” PIZZA said. 

The company said its second quarter performance also reflected the contribution of Potato Corner, which Shakeys took over in March 2022.

“At the height of the pandemic, we made the strategic decision to continuously invest in the expansion of our store network and our portfolio with this reopening in mind,” said Vicente Gregorio, president and CEO of PIZZA. 

Gregorio said the company expects to post even faster growth in the second half, especially with the resumption of face-to-face classes and the holiday season.

Besides Shakey’s Pizza, the company also operates the Peri-Peri Charcoal Chicken & Sauce Bar, R&B Milktea, Project Pie, and Potato Corner. 

It plans to open 40 stores for its core and emerging brands and 150 stores for Potato Corner in 2022. 

RELATED VIDEO

Watch more News on iWantTFC