Shakey’s PIZZA more than doubles net income to P76m in Q1

This was driven in part by a strong resurgence of dine-in sales.

Shakey’s Pizza Asia Ventures, Inc. (PIZZA) saw its net income more than double to P76m in the first quarter of the year, driven by a strong resurgence in dine-in sales and a sustained off-premise business.

PIZZA’s net profit margin also expanded by 250 basis points (bps) to 4.7%; whilst its systemwide sales stood at P2.2b, representing a 33% year-on-year growth.

Moreover, PIZZA registered a 23% gross profit growth to P390m, whereas its gross margin during the quarter was at 24.2$, 50 bps compared to the same period last year.

“With a strong topline performance, operating expenses as a percentage of revenues improved by 100bps year-on-year,” the company noted.

PIZZA’s earnings before interest, taxes, depreciation, and amortization rose by 22% to P293m.

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