McDonald’s PH profit jumps to P1.6B
Golden Arches Development Corp., which holds the exclusive franchise to operate McDonald’s in the Philippines, grew its net income by 33 percent to P1.6 billion last year.
Sales revenues expanded by 12 percent to P25.5 billion boosted by a 5.8 percent growth in systemwide same- store-sales and its aggressive store expansion.
A joint venture between tycoons George Yang and Andrew Tan, GADC closed the year with a total of 566 operating stores across the country. The company opened 46 new outlets in 2017.
It plans to add more stores each year to further expand its geographical footprint.