Business and Economy
Jollibee net income up 10% to P3.4-B in H1 2017
MANILA, Aug. 15— Jollibee Foods Corp. (JFC) posted a net income of PHP3.38 billion in first half of 2017, up 10.2 percent from PHP 3.06 billion in the same period in 2016.
JFC’s system wide retail sales, which include company-owned and franchised stores, grew 13.5 percent amounting to PHP 81.08 billion in H1 2017 from PHP71.45 billion in the same period last year.
In a disclosure with the Philippine Stock Exchange disclosure Monday, 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.
