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Starbucks operator Alsea posts profit bump on sales boost
© Reuters.
MEXICO CITY (Reuters) -Mexican restaurant chain operator Alsea posted a 12% bump in net profit for the first three months of this year, the company said in a statement on Thursday, its earnings boosted by increased consumption trends and price hikes.
Alsea, which operates chain outlets including Starbucks (NASDAQ:), Burger King and Domino’s Pizza (NYSE:), reported a first quarter net profit of 588.23 million pesos ($32.64 million).
Revenues rose 16% from a year earlier to reach 17.67 billion pesos ($980.33 million), Alsea said. The company – which pulls in more than half of its sales in Mexico with additional operations in South America and Europe – said it saw revenues grow across the board.
Same-store sales during the January-to-March period increased 23.5% compared to the same quarter last year, while its delivery segment held steady, the company said.
Earnings before interest, tax, depreciation and amortization (EBITDA), meanwhile, grew 6.6% during the quarter to total 3.68 billion pesos.
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