Manila: Confident with the local market despite prevailing uncertainties, Shakey's Pizza Asia Ventures, Inc. (SPAVI) is targeting to sustain its double-digit growth this year. 'While we remain cognizant of uncertainties the market presents, we're aiming for continued double-digit growth, driven by new store openings and same store sales,' SPAVI president and chief executive officer Vic Gregorio said in a statement Tuesday.

According to Philippines News Agency, the listed firm reported that it closed 2024 with an 11 percent increase in net income following a robust fourth quarter performance while system-wide sales grew 17 percent to PHP21.7 billion. Gregorio attributed the growth to foot traffic increases during the holiday season in Q4 2024, alongside the ongoing product innovations, value-driven offerings, and enhanced customer experience across its store network.

'Navigating through 2024 wasn't easy -- from a strained consumer environment to inclement weather in the final quarter. Be that as it may, we focused on execution and on our guests. Holidays hold a prime space in the consumer wallet, and we wanted to make sure we have a compelling reason for families to choose our brands during this time,' he said.

Last year, SPAVI spent PHP953 million for the opening of 478 new stores and outlets, 136 of which were launched in the fourth quarter alone, and more than 100 units were established overseas, particularly in Thailand, Singapore, and China. "We are grateful for SPAVI's performance in 2024 and the momentum we carry into 2025. We believe this will be a better year for us, given the investments that have begun to pay off, Shakey's 50th golden year programs, and international opportunities opening up for us organically,' Gregorio said.

SPAVI's multi-brand portfolio includes Shakey's Pizza, Peri-Peri Charcoal Chicken, RandB Milk Tea, Potato Corner, and Project Pie.