Sunday, November 19, 2017
Close  
business / Corporate

Ever expanding, Jollibee income up 16.3%

business / Corporate
  • share this

Ever expanding, Jollibee income up 16.3%

/ 05:50 AM November 11, 2017

Fast-food giant Jollibee Foods Corp. grew its nine-month net profit by 16.3 percent year-on-year to P5.11 billion on higher earnings from its expanding restaurant network worldwide.

Jollibee, now the largest Asian food service company, saw a 21.1-percent year-on-year growth in net profit to P1.62 billion in the third quarter alone.

System-wide sales, a measure of all sales to consumers from its network, grew by 14.5 percent year-on-year in the nine-month period to reach P123.38 billion.  Of these, P42.3 billion was attained in the third quarter, growing by 16.5 percent year-on-year.

ADVERTISEMENT

Group-wide revenues reached P94.51 billion for the nine-month period, up by 15 percent. Third quarter revenues rose by 17.7 percent year-on-year to P32.67 billion.

The firm opened 265 new stores during the period, a 32-percent improvement. —DORIS DUMLAO-ABADILLA

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, jollibee, Jollibee Foods Corp., News
For feedback, complaints, or inquiries, contact us.




© Copyright 1997-2016 INQUIRER.net | All Rights Reserved