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Manila Bulletin devider devider McDonald's PH sets P2-B capex for expansion

McDonald's PH sets P2-B capex for expansion

Published Mar 1, 2018 12:00 am
By James A. Loyola Golden Arches Development Corp. (GADC) is planning to invest up to P2 billion so McDonald’s Philippines can open at least 40 new stores this year to maintain its exponential growth. GADC is majority owned by Chairman and Founder Dr. George T. Yang and his family, is the master franchise holder of McDonald's in the Philippines and has been a wholly -owned Filipino company since 2005. In a statement, the firm said McDonald's remains committed in growing its foothold in the Philippine market with big bets in store unit expansion and digital innovation as it sets its sights on achieving another year of double-digit growth this 2018. In 2017, McDonald’s Philippines opened 52 new stores across the country and reached new territories like Antique, Sorsogon, Masbate, and San Francisco, Agusan del Sur. With this expansion, McDonald’s was able to provide jobs to 4,000 Filipinos that is consistent with its employment practice of hiring direct employees — a practice the company has done since it started its operations in the Philippines in 1981. “We are confident that our expanded presence will also spur employment in our new areas of operations. By opening more new restaurants, we will be able to generate jobs and provide world-class training for thousands of young Filipinos. We also enhance economic activity in areas where we will be present,” saod McDonald’s Philippines President Kenneth S. Yang. Apart from new store openings, menu innovations and local store marketing activities allowed McDonald’s Philippines to reach P42.6 billion system wide sales in 2017 or 14 percent more than sales in the same period in 2016. The firm said this represents consistent double[digit sales growth for the company. Mirroring this is the growth of net profit after tax. Yang noted their focus on customer experience, strong and sustained demand for its products and convenient services across the country like McDelivery. This allowed McDonald’s to further expand its market share and post the fastest growth in the quick service restaurant (QSR) industry. “Alongside expansion of our physical stores, we see eCommerce as another strong source of incremental business growth as our delivery service has been growing year on year. We’re proud of our gains in McDelivery as the first QSR to have an online delivery site in 2009 and an app in 2014,” Yang added.
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