McDonald's PH posts double digit sales increase in 2017

enablePagination: false
maxItemsPerPage: 10
maxPaginationLinks: 10

Metro Manila (CNN Philippines, March 1) — Leading fast-food chain McDonald's Philippines again posted double digit growth in system wide sales in 2017.

In a statement Wednesday, the company said it reached P42.6 billion or a 14 percent increase in system wide sales last year.

"This represents consistent double digit sales growth for the company. Mirroring this is the growth of net profit after tax," it said.

The growth drivers were new store openings, menu innovations and store marketing activities, the company said.

McDonald's Philippines opened 52 stores across the country last year including Antique, Sorsogon, and Agusan del sur. Its expansion provided jobs for some 4,000 direct-hire employees.

The company said it "remains committed" to expanding its foothold in the Philippine market, and is targeting double-digit growth again in 2018.

It aims to open at least 40 new stores this year as Golden Arches Development Corporation (GADC), the master franchise holder of McDonald's in the country, invests up P2 billion for the company's "nationwide growth initiatives."

"We are confident that our expanded presence will also spur employment in our new areas of operations. By opening more new restaurants, we will be able to generate jobs and provide world-class training for thousands of young Filipinos. We also enhance economic activity in areas where we will be present," McDonald's Philippines President and Chief Executive Officer Kenneth Yang said.

Yang said McDonald's is also looking at eCommerce as another "strong source" of incremental business growth.

He cited how the company's focus on convenient and customer experience-oriented services such as McDelivery have allowed the chain to expand its market share and post "the fastest growth in the quick service restaurant industry."

"We're proud of our gains in McDelivery as the first QSR to have an online delivery site in 2009 and an app in 2014," he said.

McDonald's Philippines is one of the country's top fast-food chains. It has over 570 stores and almost 60,000 regular employees.

Last year, it was named "Best Employer for Commitment to Employer Brand" and "Best Employer for Commitment to Generation Y" at the Aon Best Employers Philippines Awards 2017 based on random employee opinion surveys and people practices index.

Majority of GADC is owned by Chairman & Founder Dr. George T. Yang and his family. It has been a wholly-owned Filipino company since 2005.