Potato Corner parent sees profit fall 20% in FY2025
Sales were impacted by softer consumer spending in the latter half of the year.
Shakey’s Pizza Asia Ventures, Inc, the parent company of Potato Corner, reported a core net income after tax (NIAT) drop of 20% to $15.86m for the financial year 2025.
The group said profits were impacted by investments in new stores and operational expenditures amidst muted sales as consumers pulled back on discretionary spending.
Systemwide sales reached $410m (P24.8b) in 2025, a 14% increase compared to last year, whilst revenues increased 11%.
Vic Gregorio, SPAVI President and CEO, said that though the first six months saw robust restaurant performance on stabilising inflation alongside major campaigns, the second half of the year saw a pullback in discretionary spending.
“Nonetheless, beyond navigating near-term headwinds, we made deliberate investments in network expansion, opening stores with attractive payback periods, reflecting our confidence in the long-term growth opportunities for the business,” Gregorio said.
Fourth quarter systemwide sales growth mirrored the full year at 14%. During this period, the group doubled down on new store openings with 163 new units. However, continued weakness in consumption led to a muted holiday season, and same-store sales remained flattish for the quarter.
Meanwhile, operating expenses as a percentage of sales saw a 70 basis-point uptick to 14.6% due to softer sales coupled with investments in demand-generating activities towards the tail end of the year.
Shakey's Pizza Asia Ventures, Inc. is a casual dining restaurant group in the Philippines, operating a portfolio of brands including Shakey's, Peri-Peri Charcoal Chicken & Sauce Bar, Potato Corner, R&B Tea, and Project Pie.
