Shakey's net income at P1.08B

Business.(Business File photo)

SHAKEY’S Pizza Asia Ventures Inc. reported a strong performance in 2023.

The group’s net income after tax achieved a milestone of P1.08 billion, marking a 23 percent increase compared to the previous year.

Amid a challenging macroeconomic environment, the group saw systemwide sales surge to P18.64 billion — a 32 percent jump year-on-year.

In 2023, the company continued to see healthy foot traffic, which buoyed the dine-in segment and helped boost the same-store sales group to 13 percent.

In the fourth quarter, the firm’s dine-in segment increased by 11 percent, as guests celebrated the holiday season. Consolidated revenues amounted to P14.13 billion, growing by 39 percent versus the year before.

Vicente Gregorio, the firm’s president and chief executive officer, said they remain vigilant and cautious this year as inflationary challenges persist. The group plans to expand its network footprint by at least 400 stores and outlets. / PR


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