May 16, 2013

Jollibee earnings surge 29% in Q1

Jollibee Foods Corp.’s (JFC) net income in the first three months grew 29% to P881 M from P682 M a year ago. Systemwide sales, a measure of all sales to customers both  in company-owned and franchised stores, picked up 10.6% to P23.83 B.

The fastfood  giant’s Philippine business expanded 9.7% while China grew 18.9%, Southeast Asia  and Middle East, 22.9%. US sales, however, declined 0.7%. JFC said it enjoyed stable commodity prices and low inflation rates, allowing it to keep prices stable. For this year, JFC committed to spend P5.5 B to put up 300 new stores across all its brands here and abroad like in Indonesia and China. - WealthSec