- August 13, 2021 / 7 min readBusiness initiatives undertaken across the board ensured that WDL delivered strong same-store sales growth (SSSG) of 183% for the quarter.
Owner of Hardcastle Restaurants, Westlife Development Limited announced unaudited financial results for the quarter ended June 30, 2021. The results were taken on record by the Board of Directors at a meeting held today.
The master franchisee of McDonald's restaurants in West and South India, it clocked a robust revenue growth of 176% YoY at Rs. 2591.6 mn.
Business initiatives undertaken across the board ensured that WDL delivered strong same-store sales growth (SSSG) of 183% for the quarter. In the month of July 2021, the company’s revenues recovered to 100% of July ‘19 levels in all markets except Maharashtra that continued to be under strict regulatory restrictions.
“Our strong performance is a testimony to the commitment and conviction of our teams. Despite all challenges, the business is firmly back on track. Revenues are building strongly, brand trust is rising consistently and our convenience channels are accelerating at an unprecedented pace. We believe that challenges of the last one year are behind us and we are excited to chart the next phase of growth,” shared Amit Jatia, Vice-Chairman of Westlife Development Limited.
The revenue recovery was strongly driven by the Company’s convenience channels of delivery, Drive-Thru and On-the-Go that continued to perform strongly even as dine-in restrictions eased in the month of June.
Overall convenience sales jumped over 202% YoY. Revenue from Drive-Thrus that is the Company’s key competitive advantage, grew by 115% YoY and 52% QoQ.
As per release, McDelivery grew close to 200% YoY, achieving its highest ever revenue numbers in June 2021. Even as dine-in restrictions eased in the month of June 2021, the Company did not see a drop in off-premise sales.
The Company also charted an improvement of 204% in its Restaurant Operating Margins that stood at 9.8% for the quarter. Consequently, its Operating EBITDA showed a 100% improvement over same quarter last year.
It also opened 7 new McCafé and 11 new Experience of the Future restaurants in this quarter. The total number of restaurants at the end of Q1 FY22 is 305 with a number of new restaurants being underground-break.
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