The Panamanian group reported its quarterly results to the National Securities Commission which stressed that all departments of the Group, except for timber and real estate had sales increases of more than 10%.
Referring to the drop in the real estate department, the Group blamed it on the global property crisis.
With regard to profits, gross profits grew by 15% while net profits fell 4.7% compared with the same period in 2007.
The Panamanian conglomerate reported sales of $60.9 million for the first quarter of 2009, 4.8% more than the same period in 2008.
The Poultry Farms and Restaurant divisions were those which reported increases in their sales, not the real estate division.
Reporter Edith Castill Duarte writes in her article for Prensa.com: “Grupo Melo is advancing its plans to go into Colombia in the restaurant industry with its chain Pío Pío, and hopes to formalize the plans by the end of the year. The vice-president of finances, planning and treasury, Eduardo Jaspe, said that the division is operating within budget, and that they are in the process of opening seven new restaurants for the local market in distinct points throughout the city.”
The Panamanian restaurant chain Pío Pío plans to sell its franchises in Colombia.
The company has 47 restaurants in Panama. It is part of Grupo Melo, a vertically integrated poultry company whose exports to various countries, including Colombia, total more than four million dollars per year.
Not only fast food franchises are growing, but also hospitality ones.
For example, during the first six months of 2013, seven Friday's restaurants, established in the country and run by the local group UNESA, recorded revenues of $9 million. Although some of these facilities reported low sales, the company says it is due to the stabilization of consumers, the time of year and other factors.
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