The Sfinks group has generated PLN 2.2 million profit for 9 months of 2014

Friday, November 14, 2014 - 16:01

The Sfinks Polska group – owner of the restaurant chains Sphinx, Chłopskie Jadło and WOOK – has generated sales revenues of PLN 126.83 million and a net profit of PLN 2.23 milion for three quarters of 2014. Meanwhile, just a year before, with a similar level of consolidated revenues, the group generated a loss of
PLN (-)1.47 million. The improved results of Sfinks are also reflected by consolidated EBITDA, which has gone up by 30% to reach, as at the end of September this year, the amount of PLN 11.65 million compared to PLN 8.94 million a year before.

During the third quarter, the effects of all activities with respect to the menu, changing the sales structure so as to better suit the customers’ needs, were becoming more and more distinct. Besides, the menu was also adjusted to the time of day, season and location. Also the improving economy was favorable to our restaurants this year. All of the above combined to result in a further improvement of the restaurant chains’ performance, and the group's operating profit was almost doubled as at the end of the last quarter, reaching the level of PLN 5.02 million, says Sylwester Cacek, President of the Management Board of Sfinks Polska.

Sfinks reports improved results also at the level of individual restaurants. After three quarters of the year, the company-managed restaurants within the Sphinx, Chłopskie Jadło and WOOK chains generated sales revenues of PLN 122.52 million, which means a 20% increase compared to last year's revenues generated in the corresponding period. A positive double-digit dynamics as at the end of September 2014 was also reported for all key categories of results. The operating profit amounted to PLN 4.49 million (compared to PLN -0.66 million after 3 quarters of 2013), the net profit was PLN 1.73 million (compared to PLN -4.38 million after 3 quarters of 2013), and EBITDA was PLN 11.02 million (compared to PLN 5.65 million after 3 quarters of 2013).

We consistently implement further projects related to our chains’ menu management. Introduced recently at the Sphinx restaurants has been a new program „Sphinx Student Club”, which includes a dedicated menu as well as other attractions. At the same time, we consistently work on changes in the menus of Chłopskie Jadło and WOOK restaurants. In that latter change, a variety of ideas will be tested till the end of the year; I hope soon to be able to provide more details on that project, Sylwester Cacek promises.

From January to the end of September 2014, five new Sphinx restaurants were added to the Sfinks Polska chain. Two of the openings pertained to existing restaurants relocated to larger and more attractive premises: in Janki in Warsaw and a Warsaw Blue City shopping center. The remaining new restaurants were opened in Białystok (Alfa shopping center), Katowice (Silesia City Center), and Warsaw (a franchised restaurant in Warsaw-Wesoła). At present, the company is working to open further new restaurants in Warsaw and Kraków.

Fri, 2014-11-14