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Mexico's Alsea posts 83% jump in Q3 net profit

Published 10/27/2022, 06:04 PM
Updated 10/27/2022, 06:06 PM
© Reuters.

MEXICO CITY (Reuters) - Mexican restaurant operator Alsea reported on Thursday a 83% jump in its third-quarter net profit, hitting 316.7 million pesos ($15.7 million), partly boosted by strong same store sales.

The company's revenues for the quarter were up 25% from a year earlier, totaling 17.518 billion pesos.

The company said in a statement its same store sales rose 30.5% in comparison with 3Q21, while its same store orders grew 17.9%.

Alsea, whose franchises include coffee chain Starbucks (NASDAQ:SBUX), Domino's Pizza (NYSE:DPZ) and Burger King in several countries, pulled in 3.48 billion pesos in earnings before interest, taxes, depreciation and amortization (EBITDA), a 10.6% increase in comparison to the previous year.

Last month, Alsea said it would invest $225 million in Starbucks by 2026, opening 200 new stores in Mexico.

($1 = 20.1271 pesos by end-September)

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