RESTAURANT group Shakey's Pizza Asia Ventures Inc. bounced back in 2021 in terms of sales and income.
In its annual stockholders' meeting, Shakey's reported that it returned to profitability by year-end of 2021 with a net income of P123 million, a P377 million reversal of the P254-million loss incurred in 2020.
The company's consolidated system-wide sales grew by 6 percent at P7.01 billion in 2021, compared to the previous year's P6.62 billion. In addition, its net sales also grew by 3 percent from P5.30 billion in the end of 2020 to P5.48 billion in the end of 2021.
Off-premise channels (deliveries and take-out) contributed to 70 percent of total sales in 2021, while dine-in sales, on the other hand, comprised the other 30 percent.
In terms of the number of stores, Shakey's was also successful as it ended 2021 with a total store count of 316, by building 37 new stores, exceeding initial plans of 30 for that year.
In his message, Shakey's President Vicente Gregorio said that 2021 was a turbulent and challenging year due to longer and stricter lockdowns caused by the Covid-19 Delta variant, but explained that the team was ready at that time to deal with the situation.
"Fortunately, the team was smarter and better prepared in 2021. We were able to develop the right game plans, properly adjust as needed and execute well. And based on the outcome, I believe we can now say that 2021 is our pandemic 'turnaround' year," Gregorio explained.
Meanwhile, Shakey's Chairman Christopher Po said they are switching decisively back to growth mode in 2022 and are hopeful they are in a good position to benefit from the reopening of the economy.
"Even as the fog of the pandemic is lifting, yet more uncertainties loom. Nevertheless, I look forward to a better 2022 fully confident that the Shakey's team will be able to face up to the challenges that are sure to come our way," Po said.