MEXICO CITY, Oct 28 (Reuters) - Mexican restaurant operator
Alsea on Thursday reported net profit of 173 million pesos ($8.4
million) in the third quarter, far outdoing analyst estimates as
it credited a rebound in sales after the pandemic's toll on the
The company, which operates franchises of coffee
chain Starbucks as well as Domino's Pizza, Burger King
and others, posted a loss in the third quarter last year.
The improvement was due to lower costs resulting from "the
recovery in sales after reduced restrictive measures related to
the pandemic," Chief Executive Alberto Torrado said in a
The company posted revenue in the July-to-September period
of 13.96 billion pesos, in line with analyst estimates and up
from 9.9 billion pesos a year earlier.
As in previous quarters, Starbucks and Domino's Pizza saw
some of the best growth across Alsea's markets.
Alsea's sales from delivery orders increased 18%,
representing nearly a fifth of total sales. Torrado said the
company expected deliveries would stay strong even after
COVID-19 restrictions are completely lifted.
"The pandemic has generated a permanent change," he said.
The company noted it was still working to pull past the
effects of the pandemic, especially in its casual and family
Alsea began the year with a loss in the first few months,
before turning a profit in the second and third quarters.
"We are working hard to recover traffic," Torrado said. "We
are sure that as people go back to work in their offices ... the
company figures will improve, contributing to growth in the last
quarter of the year."
($1 = 20.6420 pesos at end-September)
(Reporting by Daina Beth Solomon and Noe Torres; Editing by
Alistair Bell and Stephen Coates)