The Market Monitor Minding the Nation's Business
Fastfood giant Jollibee Foods Corp. (JFC) posted a net income of P3.38 billion in the first half, up 10.2 percent from P3.06 billion a year ago.
JFC’s system wide retail sales, which include company-owned and franchised stores, grew 13.5 percent amounting to P81.08 billion in the first half from P71.45 billion in the same period last year.
In a report to the Philippine Stock Exchange, the company attributed the strong growth from increased profit in its foreign businesses and joint ventures, as well as lower losses and income taxes.
It was also noted that its businesses in all regions such as China, North America, Southeast Asia, and the Middle East generated higher profits compared to last year’s figures.
At end-June 2017, JFC has a total of 3,570 stores — 2,701 in the Philippines and 869 stores abroad.
JFC’s brands across the globe include Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Yonghee King, Hong Zhuang Yuan, Dunkin Donuts, Highlands Coffee, Pho, and Hard Rock Cafe.
JFC also has stakes in Hotpo in China and Smashburger in United States.
These joint ventures are not included in JFC’s consolidated store count. RIZA LOZADA