Jollibee logs P7B income in 2017
Jollibee Foods Corporation, the largest Asian food company, has logged an attributable net income of P7.09 billion in 2017, which was higher than 15 percent from the P6.17 billion it had in the same period last year.
This was due to record store openings, Jollibee said.
To be specific, Jollibee opened a total of 465 new stores in 2017, the highest number of new stores it opened in a year in its 39-year history.
Jollibee’s system wide sales, a measure of all sales to consumers both from company-owned and franchised stores, also improved by 15.2 percent to P171.77 billion from P149.14 billion.
Meanwhile, all regions in JFC’s foreign markets: China, the United States, Southeast Asia, and the Middle East were profitable in 2017, with profit of total foreign business rising by 2.4 times compared to 2016.