Jollibee reaps rewards

Filipino fast food operator company Jollibee Foods Corporation (JFC) has raked in a net profit of 2.1 billion pesos (US$48.1 million) in the first half, up 32.7 per cent on last year.

In the second quarter alone, the company saw its net income grow 32 per cent to 1.2 billion pesos on back of strong same store sales in the Philippines and abroad.

Domestic and foreign businesses grew 12.6 per cent and 17.5 per cent, respectively. System wide sales increased 18.3 per cent in China, 34.8 per cent in Southeast Asia and the Middle East and 6.3 per cent in the US.

“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,” said JFC chairman Tony Tan Caktiong.

“These drove strong same-store sales growth in all our brands in the Philippines,” Caktiong added.

Capitalising on higher consumer spending, JFC plans to open 300 new domestic and overseas outlets during the remainder of the year.

JFC has 2102 stores in the Philippines and 569 overseas. It plans to take its Jollibee brand to Indonesia.

The company operates restaurant brands Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Burger King, Yonghe King, San Pin Wang and Hong Zhuang Yuan. It also owns a half share of Vietnamese chain Highlands Coffee.

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