Shakey’s Pizza Asia Ventures Inc. (PSE: PIZZA), a major restaurant and food kiosk chain operator in the Philippines, has reported its financial results for the first half of 2026. The company shared mixed news: while their sales grew strongly, their profits went down due to tough economic conditions.
What Happened with Sales?
According to the company’s disclosure to the Philippine Stock Exchange on August 13, 2026, Shakey’s Group achieved what they call “systemwide sales” (SWS) of Php 13.0 billion in the first six months of 2026. This represents a 12% increase compared to the same period last year. Think of systemwide sales as all the money collected from all their restaurants and food kiosks combined, whether they own them directly or they’re operated by franchise partners.
Their consolidated revenues—the money the company actually keeps—reached Php 8.2 billion, which is 9% higher than the previous year.
How Many New Stores Did They Open?
One of the main reasons for the sales growth was that Shakey’s Pizza Group kept opening new stores. During the second quarter of 2026 alone, they added a net total of 35 new units. For the entire first half of the year, they opened 104 new stores and outlets.
By the end of June 2026, the company operated a total of 3,074 units worldwide across their different brands, which include Shakey’s pizza restaurants, Potato Corner snack kiosks, and Peri-Peri chicken stores. Some notable new locations include a Shakey’s at Festive Walk in Iloilo and Potato Corner’s 15th store in Taiwan at Khaosiung Dream Mall.
What About Sales at Existing Stores?
While new stores helped boost overall sales, existing stores didn’t perform as well. The company’s “same-store sales” (SSS)—which measures how stores that have been open for a while are doing—showed a slight decline of 1% for both the second quarter and the first half of the year. This means that if you look at stores that were already operating last year, they sold about the same amount or slightly less than before.
Why Did Profits Go Down?
Despite higher sales, Shakey’s Group’s profits actually decreased significantly. Their net income after tax for the first half of 2026 was Php 232 million, down 33% compared to the same period in 2025.
The company explained several reasons for this profit decline:
- Store expansion costs: Opening new stores requires upfront investment that affects short-term profits
- Geopolitical conflict: The company mentioned an ongoing war in the Middle East that caused fuel prices to spike, making everything more expensive
- Peri-Peri restructuring: They had to spend money reorganizing their Peri-Peri chicken store network, including closing some underperforming locations
- Higher operating costs: Utilities and other expenses increased
When removing one-time restructuring costs, their “core” net income still declined by 26% year-over-year.
Understanding the Company’s Challenges
According to Vic Gregorio, SPAVI’s President and CEO, the company faced a “volatile operating environment.” What does this mean? During the second quarter, the Philippines experienced rising inflation—meaning prices for goods and services went up. This happened partly because of the war in the Middle East, which caused gasoline prices to increase sharply.
When gas prices go up, everything becomes more expensive: it costs more to deliver ingredients to restaurants, utilities cost more, and customers have less money to spend on eating out. This created what the company called “economic headwinds”—challenges that make it harder to do business.
Gregorio noted that while established brands like Shakey’s and Potato Corner handled these challenges better, newer brands like Peri-Peri struggled more and needed restructuring.
About Shakey’s Pizza Asia Ventures Inc.
Shakey’s Pizza Asia Ventures Inc. operates multiple food brands in the Philippines and other countries. The company has 1,683,760,178 common shares outstanding and trades on the Philippine Stock Exchange under the ticker symbol PIZZA.
Company’s Positive Contributions
Beyond business results, the company highlighted its social responsibility efforts. In August 2026, SPAVI received the ‘Empowerment of Persons with Disabilities Award’ at the 31st Apolinario Awards held at the House of Representatives. This recognition honored the company’s “Love ‘Em Down” program, which provides employment opportunities for people with Down Syndrome in partnership with the Down Syndrome Association of the Philippines.
As of the first half of 2026, the company had 38 participants in this program. They also work with local government units to hire senior citizens and people with disabilities.
What’s Next for the Company?
Looking ahead to the rest of 2026, CEO Gregorio said the company is focused on achieving a “soft landing” for the full year. He mentioned that early third-quarter results showed some improvements across their brands, and the company expects the fourth quarter—which includes the holiday season—to perform better since people tend to spend more during celebrations.
However, Gregorio acknowledged that challenges remain. The company is taking steps to handle the difficult environment, including restructuring underperforming operations, improving efficiency, and investing in their stronger brands like Shakey’s and Potato Corner.
Gregorio noted that while these changes will continue to impact profits in the short term, they’re positioning the company to perform much better in 2027.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
