Shakey’s Pizza Asia Ventures, Inc. (SPAVI) grew its earnings by seven percent in the first six months of 2018, as higher prices of raw materials tempered the double-digit increase in sales.
The listed casual restaurant operator reported P396 million in net income for the first semester of the year, higher than the P371 million it delivered in the same period a year ago.
“Despite the slight compression in our margins year-on-year, we remain above average in terms of our profitability metrics and see this as an advantage in weathering competitive headwinds,” SPAVI President and Chief Executive Officer Vicente Gregorio said in a statement. — Arra B. Francia
