Latest Stories

Jollibee profit reached P3.7B in ’12, up 15.1%


Fast-food giant Jollibee Foods Corp. grew its net profit last year by 15.1 percent to P3.72 billion, which reflects an extraordinary item related to the rationalization of its overseas store network.

For the fourth quarter alone, JFC’s net profit went up by 5.9 percent to P1.24 billion.

During this period, JFC wrote off P371 million due to the closure of 14 stores in the United States and 31 in China.

Excluding this non-recurring item, JFC’s core net income rose by 27.6 percent in the fourth quarter and 23.6 percent for the whole of 2012.

Most of the assets written off were leasehold improvements mainly in newly developed properties like malls where the volume of visitors did not reach the level estimated before the store opening.

“The significant cost of the store closure prevented JFC from achieving an otherwise outstanding financial performance in 2012. We look forward to doing a better job at making investments in new stores in the future,” JFC chief finance officer Ysmael Baysa said Thursday in a statement.

System-wide sales grew by 10.4 percent in the fourth quarter and by 12.3 percent in the full year to P25.35 billion and P92.27 billion, respectively.

Full-year revenues were up by 13.6 percent year on year to P71.05 billion.

For the entire year, domestic sales went up by 10.3 percent while overseas sales grew at a faster pace of 21.7 percent.

JFC has a worldwide store network of 2,628 of which 79 percent, or 2,074 stores, are in the Philippines under various brands such as flagship Jollibee, Chowking, Red Ribbon, Greenwich, Mang Inasal and Burger King.

Tony Tan Caktiong, JFC chairman and CEO, said system-wide sales in all markets performed strongly in 2012 led by China, where business expanded by 27.1 percent last year.

Southeast Asia and the Middle East grew by 23.8 percent and United States by 9.2 percent.

In China, JFC’s largest overseas market, it operates Yonghe King (297 stores), Hong Zhuang Yuan (46 stores) and San Pin Wang (40).

“Our efforts in strengthening the brands, improving the products and increasing the value to consumers are delivering strong results. As JFC celebrates its 35th year in 2013, we look forward to continued strong sales and profit growth this year and in the years ahead,” Tan Caktiong said.

For 2012 alone, the group opened a total of 223 new stores: 135 in the Philippines and 88 abroad.

JFC’s return on equity for the year rose to 18.3 percent from 17.6 percent in the previous year.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Earnings , Fast food , jollibee

  • Fz20

    galing nyo, tubung lugaw, mga servings nyo para sa pusa lang, baka malugi pa kayo nyan… bawasan nyo pa….typical tsekwa – kuripot, mandaraya, abuso.

  • rickysgreyes

    Jollibee should take the next step in becoming a conglomerate. Diversify into other businesses. Like go for tourism or outsourcing, the sunshine industries. Maybe put up a small hotel in Boracay, for a start, to learn the ropes.

    • http://pulse.yahoo.com/_V6JTYBZXUSXIDCD67ACZK7NUKM Joseph

      I believe they already have their own real-estate company…

    • http://pulse.yahoo.com/_Q3QGG5QHBLRMZTIYWUFURY6J2E Night

      different school of thought ricky… conglomerates are old age…. current thinking is focus on doing what you are good at. for jollibbee it is all about food… i think that is their mantra for now

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • 4.9 quake jolts Batanes on Maundy Thursday
  • Presidents, celebrities mourn writer Garcia Marquez
  • MH370 search to be most costly ever at $100 million — analysts
  • Iraqi guilty of beating wife to death in US
  • Avalanche sweeps Everest; 6 killed, 9 missing
  • Sports

  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Can Spurs get back at Heat? Can they survive West?
  • Hopkins, 49, seeks win for the ageless
  • LeBron still No. 1 with NBA’s most popular jersey
  • Pacquiao back in PH, heads home to wife, kids
  • Lifestyle

  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Entertainment

  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Whoopi Goldberg debuts as marijuana columnist
  • ‘X-men’ director accused of sex assault on teen boy
  • Cannes film festival launches race for 2014 Palme d’Or
  • Business

  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Oil prices mixed ahead of long Easter weekend
  • Technology

  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Last call for nominations to ’14 Presidential Awards
  • San Francisco business coalition slams proposed tax on sugary drinks
  • A ‘time-travel’ production of ‘Les Miserable’ at Stanford
  • Filipina Maryknoll sister honored for years of service
  • Malaysia quarantines 64 villagers over MERS virus
  • Marketplace