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HomeCorporate BrandInstitutional LicensingWestlife Development declares unaudited financial results for the quarter ended September 30

Westlife Development declares unaudited financial results for the quarter ended September 30

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Westlife Development Limited owner of the Master Franchisee of McDonald’s restaurants in west and south India has come out with its unaudited financial results for the quarter ended September 30, 2017.

The results were taken on record by the Board of Directors at a meeting held on November 7.

The company reported a same store sales growth (SSSG) of 8.4%, making it the ninth consecutive quarter of positive sales growth.

Revenues grew by 12.8% to Rs. 2,646.7 million. Net profit rose 190.1% to Rs. 20.7 million, while cash profit swelled to a five-year-high of Rs. 207.8 million.

Operating profit surged 59.6% to Rs. 193.6 million and operating profit margins expanded by 214 basis points to 7.3%.

Commenting on the financial results for the quarter ended September 30, 2017, Amit Jatia, Vice-Chairman of Westlife Development Limited said, “I am delighted to announce that the company has delivered excellent set of numbers, both in terms of growth in sales as well as profits.

Our growth has been driven by the robust performance of the everyday value platform and strong momentum in brand extensions like McCafe, McDelivery and McBreakfast. The implementation of ROP (Restaurant Operating Platform) 2.0 has ensured that new restaurants break-even in a shorter span of time, this has aided margin expansion and lead to strong cash flow and profit growth.

Our modern and re-imaged restaurants have taken the customer experience several notches higher and more customers are walking into our stores to experience the new ambiance as well as the products. We genuinely believe that our strong financial numbers are a reflection of the customer’s confidence in our brand. We will continue to work towards improving the customer experience across all touch points.”

The investments made by the company in its brand extensions are paying off. McCafe is fast becoming the preferred beverage destinations as it continues to add new and exciting beverages across all categories. Currently there are 136 McCafe’s operational in West and South.

The McCafe campaign that went live during the quarter has not only added to its brand appeal but has also aided margin growth.

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