Westlife Development Limited owner of the Master Franchisee of McDonald’s restaurants in west & south India, today announced audited financial and operating results for the quarter and fiscal year ended March 31, 2018. The results were taken on record by the Board of Directors at a meeting held today.
The company reported its highest ever annual sales with revenues of Rs 11.3 billion. Sales for the quarter rose 34.6 per cent to Rs 3026.9 million. Profits surged 259.4 per cent to Rs 66.1 million and margins expanded by over 225 basis points. These numbers also mark the 11th consecutive quarter of positive same store sales growth.
Commenting on the financial results, Mr. Amit Jatia, Vice-Chairman of Westlife Development Limited said, “I am absolutely delighted to announce that customers have given a big thumbs-up to our menu innovations, re- imaged stores, brand extensions, new technology initiatives and have rewarded us with repeated footfalls .On the back of this, WDL has reported record numbers in the Jan – Mar quarter with double digit comparable sales growth of 25.1%.
Our brand extensions like McCafé and McDelivery have added significantly to our revenues and the investments in Restaurant Operating Platform (ROP) 2.0 have led to more efficiency and faster breakeven time leading to margin and profit growth.
While we have had a good year, we are not going to rest on our laurels; we will continue our efforts to delight our customers with wholesome and nutritious food, great customer service, a clean environment and lots of happy moments for all our stakeholders.”
In FY 18, WDL launched over 21 products across its markets. For the first time in India, the company successfully launched 12 new products together under the “Flavours Without Borders“ campaign, it also introduced a new sides menu and city-specific products that appeal to local tastes. Thus, creating more occasions for customers to visit its restaurants.
The company strengthened its everyday value platform and now provides meals across day-parts including breakfast. These efforts to increase the variety of products and offer value have led to customer loyalty.
During the year, WDL added 38 McCafés including 7 in the last quarter, taking the total count to 149. Sales at McCafé have almost doubled over the last financial year and the brand extension has helped the company create a strong foothold in the beverages segment.
The company now operates 10 “Experience Of The Future” (EOTF) restaurants operating across Mumbai and Bengaluru. These restaurants with world-class amenities such as air chargers, gaming tablets and Self-Ordering Kiosks are generating excellent customer reviews with their service, design and utility.
The restaurant chain added 25 new stores in FY18 and marked entry into three new cities namely- Vishakapatnam, Manipal and Anand, taking its total restaurant count to 277. The company is on track to have 400-500 restaurants by 2022.
This year, McDelivery upgraded its mobile application and expanded its reach with tie-ups with food aggregators and payment partners. This has helped the company increase its reach and addressable market, while making ordering easier for consumers.
HRPL has been ranked among top 10 workplaces in the retail sector by the Great Place to Work® Institute. This is the fourth year in a row that the company has received this prestigious honour.
Given the good macro-economic environment and positive consumer sentiment, the company believes that it will be able to sustain this growth trajectory going ahead.