Jollibee earns P4B in first six months
Jollibee Foods Corp. (JFC), the largest fast-food chain in the Philippines, saw its first semester income growing by 16.1 percent to P4.05 billion amid its global expansion.
As for its net profit attributable to equity holders of the parent company, the firm’s earnings increased by 15.1 percent year-on-year to P2.25 billion.
The company’s system-wide sales, or the sales from company-owned and franchised stores, rose by 26.8 percent year-on-year in the second quarter to P53.9 billion, while it went up by 23.2 percent to P99.9 billion during the first half.
During the period, JFC booked revenue of P40.3 billion in the second quarter, up by 23.8 percent, while its revenue for the first six months climbed by 21.4 percent to P75.1 billion.
Jollibee said, as cited in a report in Philippine Daily Inquirer, its sales in all regions were strong in the second quarter, led by the North America business which grew by 195.6 percent due to the consolidation of Smashburger.
“Even without Smashbuger, business would have grown by 23.6 percent year-on-year,” the report said.
The firm’s business out of Europe, Middle East and Asia ex-Philippines also increased by 46.1 percent during the quarter while its operation in China expanded by 17.4 percent.
The Philippine business, on the other hand, grew by 15.8 percent.