Mexican American restaurant (QSR) Del Taco has reported total revenues of $505.5m for the fiscal year (FY2018) ending 1 January 2019, with a 7.2% increase compared to $471.45m last year.
The company also reported a net income of $19m, compared to $49.9m in the previous year.
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Del Taco had company-operated restaurant sales of approximately $471.2m showing an increase of 4.2% compared to 2017.
The restaurant chain reported a 2.5% increase in system-wide comparable restaurant sales, a 1.5% increase in company-operated comparable restaurant sales, and 3.8% increase in franchised comparable restaurant sales.
Del Taco president and CEO John D. Cappasola, Jr. said: “We achieved our sixth consecutive year of system-wide comparable restaurant sales growth in 2018.
“This was led by strong franchise comparable restaurant sales growth across a diverse 13 state footprint that supports Del Taco’s brand portability, including 25 new system-wide openings across ten states during 2018 of which nearly half were franchised restaurants.
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By GlobalData“Lastly, despite modest company comparable restaurant sales and meaningful wage and operating inflation, we demonstrated effective cost management and pricing strategies to post a strong annual restaurant contribution margin that remained near or above 20% in each of the last four years.”
QSR chain reported total revenues of $157.3m for the fourth quarter of 2018 ending 1 January 2019, a 7.3% increase compared to $146.5m for the same period last year.
Del Taco also reported a net income of $5.6m, compared to $35.2m for the same period in the previous year.
