Shakey’s Pizza Asia Ventures Inc., the casual restaurant chain and food service group in the Philippines, said it is confident of growing its earnings by double digits this year due to the expansion of its store network and its strong brands.
Gregorio said the company is still expanding despite higher inflation and its effect on the spending habits of consumers. Gregorio said Shakey’s sees its topline and bottomline growing by the “mid-teens” this year as the cost of doing business will taper down in the latter part of the year.Last year, Shakey’s posted a profit of P1.08 billion, up 23 percent from P874 million the prior year. Revenues grew 39 percent to P14.13 billion from P10.16 billion, out of systemwide sales of P18.64 billion, which was 32 percent higher year-on-year.
Overseas, Gregorio said the company is seeing “very attractive” growth potentials in China and Malaysia where the company, has introduced its brands.
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