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Pancake House bucks Q1 downtrend.
Byline: Neil Jerome C. Morales
LISTED RESTAURANT chain Pancake House, Inc. grew profits by more than a quarter in the first three months of the year even as other peers in the food industry recorded declines for the period amid rising commodity prices.
"Pancake House remains strong with a 27.5% increase in net income to P13 million for the first quarter compared to the same period last year," the company said in its financial report.
"The final month of the first quarter mitigated the slow beginning during the year," it added.
This is an improvement from the first quarter of 2010 when its earnings dropped by a fifth to P8.29 million as a result of …
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- Restaurant chain dodges downtrend.
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Magazine article from: BusinessWorld (Philippines)
August 17, 2011
700+ words
