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.
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.
“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.