NE BUSINESS BUREAU
MUMBAI, JAN 24
Westlife Development Limited, owner of the Master Franchisee of McDonald’s restaurants in West and South India, on Friday announced that the company’s net profit grew to ₹ 227.2 million for the quarter ended December 31, 2019, up by 228.3% from last year, same quarter. The cash profit for the quarter stood at ₹ 449.6 million. WDL reported an SSSG of 9.2%, over a high SSSG of 14.5% the same quarter, last year. This marks the 18th consecutive quarter of positive same-store sales growth for the company. WDL tapped into the festive season and launched a slew of value and occasion-led campaigns owing to which the company’s revenue surged by 16.8% to ₹ 4329.3 million.
Commenting on the financial results, Amit Jatia, Vice-Chairman of Westlife Development Limited said, “Our strategy centered on customer experience, digitization and maximizing efficiencies is gaining momentum and delivering consistent results. Through McCafé, McDelivery, and McBreakfast, we have mindfully created more occasions to drive increased brand usage across all days-parts. This has helped us stay the course of our growth despite a challenging economic environment, slower-than-expected GDP growth, and tepid consumer sentiment. We are committed to remaining relevant to our evolving customers and delivering great value and customer experience.”
Highlights for the Quarter
- Operating EBITDA increased by 47.5% year-on-year to ₹ 520.5 million
- Cash profit increases by 52.6% at ₹ 449.6 million
- The company further strengthens the value platform through McSaver combo campaign
- Launches11 new restaurants and 13new McCafés, taking the total count to 315 and 218, respectively
