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The company’s digital sales increased to 62%, spearheaded by SOKs (Self-Ordering Kiosks). McDelivery platform, its own delivery channel, saw a significant increase in users.
McDonald’s restaurants in West and South India which are owned and operated by Westlife Foodworld Limited have reported a record full-year performance for 2023 with the highest-ever sales of Rs. 22.7 bn, up by 44% YoY, powered by the industry’s top Same Store Sales Growth (SSSG) at 36% YoY. A Cash PAT of Rs. 2.5 billion, up 97% YoY, was reported by the company.
The company recorded an all-time high Q4 sales of Rs. 5.56 bn in the under-reviewed quarter, up 22% YoY with a solid double-digit SSSG (same-store sales growth) of 14% YoY. The on-premise business was able to grow by 38% YoY due to a double-digit increase in dine-in clients.
The McDelivery platform, the company’s own delivery strategy, had a significant increase in users as digital sales increased to 62%, driven by SOKs (Self-Ordering Kiosks).Due to this impressive top line, the company’s restaurant operating margin, which is currently at $1,364 million, increased by 34% YoY.
“FY 23 was a landmark year for Westlife Foodworld. Our strong performance, delivered by our omnichannel strategy, menu innovations, store modernization, and cost optimization strategies, is a testament to our scale and agility. We were not only able to strengthen our value proposition but were also able to capitalize on our momentum to promote long-term sustainable growth for all our stakeholders. I believe we are on a strong growth trajectory and will continue to build on our competitive strengths and further our business advantage,” shared Amit Jatia, Vice-Chairman, Westlife Foodworld Limited.
The company’s Operating EBIDTA increased to Rs 919 million, up 26% YoY, despite the pressures of inflation and macroeconomic headwinds. In the quarter, the company had a Cash PAT of Rs. 567 million. Westlife’s average sales per store (TTM) increased from Rs. 49.8 mn in FY 22 to Rs. 66.2 mn. In the final quarter of FY23, 18 new restaurants were opened by Westlife. They plan to quickly expand 40–45 new restaurants in FY24 and 580–630 new eateries by 2027.
The classic Chicken Big Mac and Cheesy Nuggets were introduced by the firm, which was bolstering its Big Burger-led menu innovations. Virendra Sehwag was chosen to represent the Chicken Big Mac in a marketing campaign. This International Women’s Day, the company launched a distinctive multi-nation campaign honouring the important contribution that women have made to its workforce in order to enhance its commitment to building a culture of gender equality and diversity.
In 56 locations as of March 2023, Westlife operated 357 restaurants, including 220 Experience of the Future (EOTF) eateries, 311 McCafés, and 68 drive-thrus.