Pancake House Inc. projects a consolidated net income growth of 67 percent this year to P45 million from the P27 million earned in the same period last year mainly due to earnings from recently acquired Japanese food chain Teriyaki Boy.
Officials said in a briefing yesterday that the Teriyaki Boy Group is seen to bring in net income of P13 million from its full year of operations under Pancake House. It operated under Pancake House for only 63 days last year.
Also contributing to improved earnings is the expected reduction in losses of Dencio’s Food Specialists Inc. to P2.6 million this year from a loss of P12 million last year.
Flagship Pancake House is expected to report a 10 percent drop in profits to P35 million from P39 million in 2005.
Consolidated system sales is seen growing 24 percent to P1.78 billion this year from P1.44 billion last year on the back of strong growth in sales of Pancake House and Teriyaki Boy and a slight growth to be posted by Dencio’s.
Pancake House sales is expected to jump 16 percent to P803 million from P693 million in 2005 while Teriyaki Boy system sales is seen surging 61 percent to P579 million in 2006 from P360 million last year. Sales of Dencio’s is projected to grow to P398 million from P385 million in 2005.
As a result, consolidated revenues is expected to spike 82 percent to P1.45 billion from P797 million last year as all brands are seen registering strong growth.
Leading growth in revenues is Teriyaki Boy with 811 percent to P556 million from P61 million with its full year earnings under Pancake House.
Dencio’s is also seen reporting a 40 percent jump in revenues to P331 million from P237 million last year as more restaurants open, while Pancake house revenues will improve 12 percent to P561 million from P499 million in 2005. (JAL)
Growth will come on the back of the 28 new restaurants the group will open raising the total to 118 from 90 last year. Pancake house will open 8 more stores to raise the total to 66, Dencio’s with 4 more for a total of 25 while Teriyaki Boy branches will surge to 27 from 11 last year.
The firm will continue its strategy of building its brands while putting up new stores and refurbishing old outlets as well as enhancing their menus to keep consumers interested.
It will also seek to improve efficiencies in commissary and logistics, purchasing, labor, and site procurement. It will also pursue franchising to speed up opening of branches. (JAL)
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