Pancake House Group is reportedly investing in another site in Cagayan de Oro City as the firm is expecting to increase its sales this year to P2.5 billion, or about 13- percent higher than 2010.
Martin Lorenzo, Pancake House chairman and president, said the group recorded 2010 sales of about P2.2 billion, 10 to 15 percent more than in 2009. The number of stores, on the other hand, increased to 180 from 160 in 2009, of which half is company-owned.
The Pancake House Group operates seven brands—Pancake House, Dencio’s, Kabisera ni Dencio, Teriyaki Boy, Sizzlin’ Pepper Steak, Singkit and Le Coeur de France.
Last year, Lorenzo said Pancake House recorded sales of about P1 billion; Teriyaki Boy and Sizzlin’ Pepper Steak, P900 million; and the rest spread among the other brands.
For 2011, Lorenzo said Pancake House is expected to increase sales to P1.1 billion; while Teriyaki Boy and Sizzling Pepper Steak, P1 billion.
Lorenzo said most of the company’s new locations will be in hospitals where Pancake House is currently doing well. Top outlets include those in Makati Medical Center and at Asian Hospital in Alabang. The company expects to open new branches inside so-called travel plazas found near large gas stations.
The company, he said, is also growing heavily in provinces with new sites to open in key cities such as Davao, Cagayan de Oro, Cebu and Baguio.
with article by Max De Leon of Business Mirror