Westlife Foodworld Limited (WFL), formerly known as Westlife Development, owner and operator of McDonald’s restaurants in West and South India, has announced a record full-year performance 2023 with highest ever sales of Rs 22.7 bn up by 44% YoY, driven by industry-leading Same Store Sales Growth (SSSG) at 36% YoY. The company recorded a Cash PAT of Rs. 2.5 billion up by 97% YoY.
In the quarter under review, the company reported an all-time high Q4 sales of Rs. 5.56 bn, up 22% YoY with a strong double-digit SSSG (same-store sales growth) of 14% YoY. This was driven by a double-digit growth in dine-in customers, enabling the on-premise business to grow by 38% YoY. The company’s own delivery channel, the McDelivery platform, saw a robust rise in user base, as digital sales improved to ~62%, led by SOKs (Self-Ordering Kiosks).
This strong topline resulted in a 34% YoY increase in the company’s Restaurant Operating Margin, which now stands at ₹1,364 million.
Westlife opened 18 new restaurants in the fourth quarter of FY23. The company is on a fast track to add 40-45 new restaurants in FY24 and 580-630 new restaurants by 2027.
Strengthening its Big Burger-led menu innovations, the brand launched the iconic Chicken Big Mac and Cheesy Nuggets. To promote the Chicken Big Mac, Virendra Sehwag was roped in as the face of the brand campaign. To further reinforce its commitment towards fostering a culture of gender equality and diversity, this International Women’s Day, the company launched a distinctive multi-nation campaign recognizing the significant contribution that women have made to its workforce.
As of March 2023, Westlife had 357 restaurants in 56 cities, including 68 Drive-Thrus, 311 McCafés, and 220 Experience of the Future (EOTF) restaurants.
