Expenses weigh on Shakey's Q1 profit

By Brix Lelis

May 16, 2024 12:22 am

SHAKEY's Pizza Asia Ventures Inc. (SPAVI) on Wednesday reported netting P171 million in the first quarter (Q1), down 15 percent from a year ago, as higher costs offset robust growth in sales.

Consolidated revenues grew to P3.1 billion from P2.9 billion, while system-wide sales surged 15 percent year on year to P4.8 billion amid a network expansion program and a positive spillover from last year.

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