Shakey’s Pizza net income reaches P454m in first 9 months

This is coming from a P35m loss in the same period in 2021.

Philippines’ full-service restaurant chain and food service group Shakey’s Pizza Asia Ventures posted a net income of P454m in the first nine months of 2021, reversing the P35m loss in the same period last year.

In a statement, Shakey’s said the net income for the third quarter also showed a full reversal to P250m on the back of the 2.4 times higher systemwide sales (SWS) in the third quarter compared to the same period last year, reaching a record high P3.8b.

The SWS for the first nine months nearly doubled to P9b, resulting in an 80% growth in revenues.

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“This performance can be attributed to the continued resurgence of dine-in sales as mobility further improved in the country. With dine-in contribution on the rise and off-premise holding steady driven by PIZZA’s initiatives to support delivery and carry out, PIZZA saw a significant jump in its topline,” it said.

Shakey’s added that the acquisition of Potato Corner also supported its sales, but its same-store sales also rose 32% without Potato Corner.