(MENAFN) Russian fast-food chain Vkusno i Tochka experienced a significant surge in its revenues last year, more than doubling its earnings compared to the previous year, as reported by a Russian news agency.
In 2023, the company's revenues reached 155.7 billion rubles (USD1.68 billion), marking a 2.1-fold increase from the year before. Sales also saw a substantial rise, reaching 128.3 billion rubles, which was 1.7 times higher than in 2022. Annual net profit amounted to 14.2 billion rubles, compared to 11.6 billion rubles in 2022 and just 2 billion rubles in 2021.
The notable growth was attributed to several factors, including the addition of 37 new restaurants and the continuous operation of all outlets throughout the year. In contrast, in 2022, many restaurants were inactive between mid-March and June due to ownership changes and rebranding. Additionally, the company's revamped customer services, including delivery, contributed to its success.
Vkusno i Tochka, meaning 'Just Tasty' in English, stepped in to replace McDonald’s in Russia after the American fast-food giant announced its departure from the market in March 2022. McDonald’s cited international pressure and sanctions related to the Ukraine conflict as the reasons for its decision.
In June 2022, McDonald’s completed the sale of all its outlets in Russia to its local licensee, Aleksander Govor, who subsequently renamed and rebranded the chain. McDonald’s later disclosed that its exit from the Russian market incurred a cost of USD1.3 billion.
Currently, Vkusno i Tochka operates more than 880 restaurants across 64 regions in Russia.
MENAFN21032024000045015839ID1108004272
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.