MANILA, Philippines–Local fast-food giant Jollibee Foods Corp. 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 alongside improved margins.
For the second quarter alone, attributable net profit likewise rose by 32.4 percent to P1.2 billion from a year ago.
System-wide sales – measure of all sales to consumers, both from 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, 12.1 percent higher than the level a year ago.
At the same time, operating income margin improved to 7.8 percent in the second quarter from 6 percent a year ago as sales continued to be strong while cost of raw materials remained stable.
The Philippine business grew by 12.6 percent while the 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 US by 6.3 percent.