Shakey’s Pizza Asia Ventures Inc., the Philippines’ leading chained full-service restaurant, expects sales and net income to rise annually by double digits over the next five years amid store expansion both here and abroad.
SPAVI chairman Christopher Po said the company aimed to increase the domestic business not only through store expansion but also through acquisitions and international expansion.
“As the scale of the business grows, with competition coming in from all directions, it has gotten noticeably difficult in the recent years to maintain the pace,” Po said.
“Nonetheless, our team is setting our sights higher and is now aiming to go for 20 years of consecutive double digit growth as the next milestone,” he added.
SPAVI in 2018 posted its 15th consecutive year of double-digit growth in terms of system-wide sales and net income, as cost pressures were partially offset by efficiency gains and tactics price increases.
SPAVI president and chief executive Vicente Gregorio said the company planned to open 20 Shakeys stores in 2019 to end the year with 248 outlets.
It is also set to open five to six branches of newly-acquired Peri-Peri stores, mostly in Metro Manila.
“We are excited by the potential of Peri-Peri to scale. We expect it to be an important future growth driver for our cast casual chain restaurant business,” Gregorio said.
“Our deep insights into how to best serve fast casual restaurant guest should allow us to further grow the Peri-Peri brand,” he added. Peri-Peri plans to open four to six international stores this year.
SPAVI earlier signed two international agreements that would boost overseas pipeline to 18 stores over the next few years.
Apart from the Philippines, SPAVI owns perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia and Oceania.
Gregorio said the company was aiming to maintain the three- to four-percent same store sales growth in 2019 by developing multiple sales channels and providing innovative products to enhance its offerings.
Share price of SPAVI on Thursday gained 0.1 percent to P14.14.