Home-grown fast food giant Jollibee Foods Corp. likely posted better profit figures in the second quarter of the year, following an improvement on its bottom line with the stabilization, and in some cases even decline, in food prices.
Jollibee founder Tony Tan Caktiong earlier this week said that, save for a few areas of its business, sales have also continued to improve due mainly to the country’s stronger economy.
“Commodity prices are stable and are even going down. We are very bullish about the Philippines,” he said.
He told reporters that this would likely translate to higher sales in the April-June period over that of the same period last year.
“Margins from our China operations are challenging right now. We recently include a commissary there and its capacity is not yet fully maximized. It will take time,” he said.
However, the company’s second-quarter performance was not so strong as the first quarter, when the company saw an unusual spike in demand.