Shakey's Pizza Asia Ventures, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018
August 06, 2018 at 11:55 pm EDT
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Shakey's Pizza Asia Ventures, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net sales of PHP 1,848,420,828 against PHP 1,638,456,747 a year ago. Income before income tax was PHP 270,341,983 against PHP 262,406,926 a year ago. Net income was PHP 212,409,920 or PHP 0.14 per basic and diluted share against PHP 198,516,775 or PHP 0.13 per basic and diluted share a year ago.
For the six months, the company reported net sales of PHP 3,540,172,802 against PHP 3,245,923,056 a year ago, sales growth rise to plus 13% during the first six months of the year, an increase from the 10% seen in the first quarter. Income before income tax was PHP 511,202,180 against PHP 502,061,493 a year ago. Net income was PHP 396,122,797 or PHP 0.26 per basic and diluted share against PHP 371,348,006 or PHP 0.24 per basic and diluted share a year ago. This represents a growth of 7% year-on-year. Earnings performance can be attributed to the Company's improved same-store sales performance, ongoing store network expansion and sustained net profit margin. Net cash provided by operating activities PHP 343,780,870 against PHP 418,900,302 a year ago. Acquisition of property and equipment was PHP 215,628,218 against PHP 413,480,060 a year ago. Consolidated EBITDA was PHP 724,749,680 against PHP 675,984,089 a year ago. Operating income was PHP 589 million against PHP 594 million a year ago. Net revenue was PHP 3,690 million against PHP 3,377 million a year ago. As of June 30, 2018, the Company had PHP 3.9 billion in interest-bearing debt, having previously paid off PHP 1.0 billion of the PHP 5.0 billion long-term loan incurred for the acquisition of its wholly-owned subsidiaries.
For the year, the company affirms double digit growth target for the year.
Shakey's Pizza Asia Ventures Inc. is a Philippines-based company, which is engaged in chained pizza full-service restaurant, chained full-service restaurant, and chained kiosks. The Companyâs segments include Restaurant Sales and Franchise and Royalty Fee. The Restaurant sales segment is engaged in restaurant activities and sale of merchandise and equipment to franchisees. The Franchise and royalty fees segment represent payment of sub dealers for the use of the Shakeyâs, Peri-Periâs and Potato Corner brands. The Company operates over 300 stores. Its brands include Shakey's Pizza Parlor, Peri-Peri Chicken Charcoal Chicken and Sauce Bar, Potato Corner, Project Pie, R&B Team, and Bakemaster Inc. Shakey's Pizza Parlor owns and operates Company-owned stores as well as franchise the brand, enabling Company to branch out to second- and third-tier cities. Potato Corner is a kiosk-based food brand. Bakemaster Inc. supplies airline caterers, hotels, restaurants, and sandwich chains.
Shakey's Pizza Asia Ventures, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018