Restaurant operator Shakey’s Pizza Asia Ventures Inc. said Monday it expects to return to profitability this year despite the lingering uncertainty around the COVID-19 pandemic.
Shakey’s said in a disclosure to the stock exchange it decided to restart store network expansion, which it put on hold last year because of the pandemic.
The company said, however, new stores would have smaller footprints and reduced investment requirements compared to traditional brick-and-mortar stores.
This strategy ensures payback periods are kept short and return on capital remains high, it said.
Shakey’s is also looking to build locations that have all its brands, namely Shakey’s, Peri-Peri Charcoal Chicken and R&B Milk Tea brands to maximize the existing asset base.
