Quantcast
Latest Stories

Jollibee 6-month profit up; new CEO named

By

Thirty-five years after setting up the Jollibee group, founder Tony Tan Caktiong will step back from day-to-day operations and pass on the baton to his younger brother, Ernesto Tanmantiong.

Long being groomed to be Jollibee Food Corp.’s next chief executive, Tanmantiong, 55, will assume office effective July 1, 2014. Jollibee has announced the succession plan as Tan Caktiong officially became a senior citizen last month.

Tanmantiong is chief operating officer of Jollibee Philippines, a position he has held since 2012. He is credited for sustaining the group’s leadership in the local market and accelerating its overseas expansion.

The fast-food giant grew its six-month net profit attributable to equity holders of parent by 32.7 percent year-on-year to P2.1 billion as sales volume expanded and margins improved.

For the second quarter, alone, attributable net profit rose by 32.4 percent to P1.2 billion from a year ago. Annualized return-on-equity reached 19.2 percent, up from 15.8 percent in the second quarter of last year.

System-wide sales—sales of both company-owned and franchised stores—expanded by 13.6 percent year-on-year in the second quarter to P26.1 billion. This brought six-month sales to P49.9 billion, up 12.1 percent from a year ago.

Operating income margin improved to 7.8 percent in the second quarter from 6 percent a year ago as sales posted strong growth while cost of raw materials remained stable.

The Jollibee’s Philippine operations grew by 12.6 percent while overseas business expanded by 17.5 percent, with China growing by 18.3 percent, Southeast Asia and the Middle East by 34.8 percent and the United States by 6.3 percent.

“Our new products, improvement of existing products and consistency of our service quality while maintaining stable prices have increased the value of our products and services to our customers. These drive strong same-store sales growth in all our brands in the Philippines,” said Jollibee chief executive officer Tony Tan Caktiong.


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: Business , jollibee , profitability

  • Filpino

    lumaki ang Jollibee dahil sa mga working students na pinagtratrabaho ng per oras ng Jollibee na mga hindi regular. after 30 years in business sobra sobra na ang yaman at laki ng Jollibee pero after 30 years rin ang mga working students nila na nagkandahirap ,mag serve sa customers at mag mop ng sahig at cr, ilan lang sa kanila ang nakatapos at ilan rin lang sa kanila ang guminhawa ang buhay tulad ng jollibee bosses. Dapat kalahati ng kinita ng Jollibee ngayon ay i share nila sa mga working students na nagtrabaho ng per oras sa kanila.

    • I_kabod

      ayos. tamang tamad lang ah.

  • Kanon

    sana iimprove din ng jollibee ang quality ng food nila, minsan kasi maanta na yung lasa ng fires, chicken or meatballs sguro sa karerecycle ng mantika, di din masarap yung bagong labas nilang pork chop, pero go Jollibee!



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
Advertisement
Advertisement

News

  • 16 suffer burns in Batangas sugar factory accident
  • Angat level drops; cloud seeding set
  • Indigenous aspiration in Bangsamoro
  • Banahaw continues to lure pilgrims, trekkers
  • Passion of Christ moves survivors
  • Sports

  • Tottenham beats Fulham 3-1 in Premier League
  • Martino defends Messi, takes blame for Barca fail
  • Vettel hoping for resurgence at Chinese GP
  • MLB pitcher donates $100,000 for Sewol ferry victims
  • Hamilton takes pole at Chinese Grand Prix
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • 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’
  • Entertainment

  • Why ‘Noah’ can’t dock his ark at Philippine theaters
  • Acclaimed artist goes wild while on holiday
  • Believing in this mermaid
  • Missing Xian
  • Minnie Driver plays devastated mother to a stillborn child
  • Business

  • A workplace of new possibilities
  • Learning by doing: pilgrimage of faith
  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • 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

  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • 5 Filipinos with MERS in UAE reported in stable condition
  • Marketplace