UP TO 30 new McDonald’s branches are eyed to open in the country every year until 2016 as the expected growths of the economy and business process outsourcing industry are seen to continue to drive consumption, an official from the fastfood firm’s master franchise holder said.
Neil Jerome C. Morales
BusinessWorld
The expansion plan comes even as rising commodity costs are expected to keep profits from growing this year, the official said.
“This year, probably we will build 20-30 more restaurants. It may be the same number next year or slightly higher,” Kenneth S. Yang, president and chief executive of master franchise holder Golden Arches Development Corp.
Since the start of the year, the fastfood firm has already hiked prices by an average of 2%.
Rival Jollibee Foods Corp. for its part recorded an 8.8% decline in net income to P631 million in the first quarter.
Mr. Yang owns a 51% stake in Golden Arches, with the remaining 49% stake held by listed Alliance Global Group, Inc. of property tycoon Andrew L. Tan.
Read here
Neil Jerome C. Morales
BusinessWorld
The expansion plan comes even as rising commodity costs are expected to keep profits from growing this year, the official said.
“This year, probably we will build 20-30 more restaurants. It may be the same number next year or slightly higher,” Kenneth S. Yang, president and chief executive of master franchise holder Golden Arches Development Corp.
Since the start of the year, the fastfood firm has already hiked prices by an average of 2%.
Rival Jollibee Foods Corp. for its part recorded an 8.8% decline in net income to P631 million in the first quarter.
Mr. Yang owns a 51% stake in Golden Arches, with the remaining 49% stake held by listed Alliance Global Group, Inc. of property tycoon Andrew L. Tan.
Read here
No comments:
Post a Comment