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McDonald shows strong revenue growth in FY17
Westlife Development Limited owner of the Master Franchisee of McDonald’s restaurants in west and south India today announced audited financial and operating results for the quarter and fiscal ended March 31. The results were taken on record by the Board of Directors at a meeting held in Mumbai.
Westlife Development Limited owner of the Master Franchisee of McDonald’s restaurants in west and south India today announced audited financial and operating results for the quarter and fiscal ended March 31. The results were taken on record by the Board of Directors at a meeting held in Mumbai.
WDL reported 11.7 per cent increase in total revenues from 8,334.3 million to 9,307.9 million per year riding on the operations of its subsidiary, Hardcastle Restaurants Pvt. Ltd(HRPL), a master franchisee for the west and south India operations of McDonald’s Restaurants.
Commenting on the financial results for the fourth quarter and fiscal ended March 31, Amit Jatia, Vice-Chairman of Westlife Development Limited said, “FY17 has been a significant step forward for brand Mc Donald’s in India.
We ramped up our menu with the introduction of new dishes like Masala Scrambled Eggs and Dosa Masala Brioche in McBreakfast as well as new daytime offerings like soups, salad and wraps, providing our customers wholesome and healthier meal options.”
On the operating front, new stores have performed remarkably well under the Restaurant Operating Platform (ROP) 2.0 that was launched in the last quarter of FY16. New stores that were opened under ROP 2.0 yielded substantial cost efficiencies, leading to a significantly shorter break even time.
During the year under review, HRPL took a quantum leap and delighted the customers with its ‘Experience of the Future (EOTF)’ stores. These stores enhance convenience by offering customers the choice of self ordering kiosks, air chargers, table service and other facilities with a view to provide patrons a modern dining space.
The company substantially increased its McCafé footprint, adding 36 McCafé’s in FY17 with seven McCafé being added in the last quarter, taking the total count to 111. McCafé has enabled the company to broaden an addressable market and grow baseline sales.
WDL added 25 new restaurants in FY17, taking the total count to 258 in west and south India. In this quarter, the company added nine restaurants (four in Maharashtra, one each in Chhattisgarh, Goa, Gujarat, Karnataka and Tamil Nadu) and aims to have 450-500 restaurants by 2022.
