LISTED food service group Shakey鈥檚 Pizza Asia Ventures, Inc. (SPAVI) expects 2025 to be a stronger year, as the company remains optimistic about achieving its double-digit growth target, driven by easing inflation.
鈥淲e have a very cautious but already optimistic view that 2025 will be even better than the previous year. That鈥檚 why we have given a guidance of sustaining the double-digit growth for 2025,鈥 SPAVI President and Chief Executive Officer Vicente L. Gregorio said during an online briefing last week.
鈥淐urrently, we are buoyed with the fact that we鈥檙e seeing inflation soften. The consumer found their confidence and spending has been growing bit by bit, quarter-on-quarter,鈥 he added.
The country鈥檚 inflation rate eased to 1.4% in April, the slowest pace in more than five years, bringing the four-month average to 2%.
鈥淎s we look to the next three to five years, our mission is to keep the momentum going, aiming to sustain double-digit growth and expand our reach,鈥 Mr. Gregorio said.
Mr. Gregorio said SPAVI sees growth opportunities in the Visayas and Mindanao regions, led by its Peri-Peri Charcoal Chicken & Sauce Bar brand.
鈥淲hile we may have almost reached saturation in Metro Manila, there鈥檚 still very much healthy room for growth outside Metro Manila, especially in Visayas and Mindanao, which we鈥檙e happy with our projects there,鈥 he said.
鈥淥ne of our latest acquisitions, Peri-Peri, is beginning to stretch its legs and presence outside Metro Manila,鈥 he added.
Mr. Gregorio also said the company is on track to open at least 430 new stores this year.
鈥淥ur store network expansion is on track, and we expect to pick up the pace in the coming quarters. We are also particularly encouraged by the continued progress of our international business 鈥 a new vertical that is shaping up to be a meaningful contributor to our future performance,鈥 Mr. Gregorio said.
As of end-March, SPAVI had 2,671 stores in its global network. Its brands include Peri-Peri, Shakey鈥檚, Potato Corner, R&B Milk Tea, and Project Pie.
For the first quarter, SPAVI grew its net income by 6% to P182 million. Global systemwide sales rose by 17% to P5.6 billion, led by both its domestic and international segments.
Revenue increased by 14% to P3.5 billion, while operating income grew by 15% to P285 million.
SPAVI shares were last traded on May 16, closing lower by 2.38% or 19 centavos at P7.78 per share. 鈥 Revin Mikhael D. Ochave
