Jollibee Foods Corporation
Higher same-store sales and new branches allowed fastfood giant Jollibee Foods Corp. (JFC) to jack up its earnings in the first quarter. In a regulatory filing, JFC said its net income grew 29 percent to PHP881 million (USD21.3 million) from PHP682 million (USD16.5 million) a year ago.
Its continuous network expansion amid increasing demand will allow the country’s largest fastfood chain to post healthy sales growth this year, the company’s top official said.
The Philippines' largest food service company, Jollibee Foods Corporation (JFC), reported a net income of PHP881.7 million (USD21.4 million) for the third quarter of 2012, 18.9 percent above the profit generated in the same period last year.
System wide sales also grew by 12.1 percent against sales in the same months in 2011.
JFC said sales growth was broad-based and volume driven resulting from better-value-for-money recognition by consumers on its products and services. Sales of Philippine brands rose by 9.6 percent and those abroad grew by 22.6 percent.
Fastfood giant Jollibee Foods Corp. (JFC) is fasttracking its branch expansion this year amid robust local consumer spending and good market reception abroad.
JFC will spend P5.5 billion (USD135.1 million) this year to put up 300 new stores across all its brands here and abroad, its top executive said.
“We are planning to open about 300 stores. Last year was about 200,” JFC chairman and CEO Tony Tan Caktiong said on Monday.
Jollibee Foods Corp. (JFC), the Philippines' largest food service company, posted nine-month net earnings of P2.47 billion, up 20.4 percent from the same period in 2011 on the back of improved margins and higher sales in both domestic and foreign businesses.
Jollibee Foods Corporation, (JFC) through wholly-owned unit Golden Plate Pte. Ltd., has entered into a joint ventur (JV) agreement for a company together with Beeworks Inc. to own and operate Jollibee stores in Singapore.
In a disclosure to the Philippine Stock Exchange (PSE), Jollibee said Beeworks is owned mostly by Singaporean individuals with extensive business experience in the retail and hospitality sector.
Jollibee Foods Corporation is allotting PHP5.8 billion (USD134.79m) for its capital investment budget this year as it aims to continue expanding its operations in the Philippines and in China.
In a disclosure to the Philippine Stock Exchange, Jollibee said up to half of this year's budget will be spent to increase its store count by 125 stores in the Philippines and 100 stores in China.
Jollibee Foods Corporation, the Philippines' largest fast-food chain, launches its online payment service with AsiaPay, an electronic payment solution and technology provider in Asia and the company behind PesoPay, to allow Jollibee's online delivery website (www.jollibeedelivery.com) to accept and collect credit card payments online.
Jollibee Foods Corporation (JFC), through wholly owned unit Jollibee Worldwide Pte. Ltd., has completed its acquisition of 55 percent of Guangxi San Pin Wang Food and Beverage Management Company Limited which will entail a CNY40-million (USD6.32m) investment.
In a disclosure to the Philippine Stock Exchange, Jollibee said its investment in South China will be done through its joint venture with Guangzi Zong Kai Food and Beverage Investment Company Limited (GZK).
Jollibee Foods Corporation, the Philippine largest fast-food chain, launches its online payment service with AsiaPay, an electronic payment solution and technology provider in Asia and the company behind PesoPay, to allow Jollibee's online delivery website to accept and collect credit card payments online.
Jollibee Foods Corp. (JFC) has agreed to sell to Café France Corp. its franchise of Korean coffee and gelato brand Caffe Ti-Amo for PHP20 million (USD461,420) as it gears up for fresh investments in China and Southeast Asia.
In a disclosure to the Philippine Stock Exchange yesterday, JFC said Café France, which will now become the master franchisee of Caffe Ti-Amo in the Philippines, is the same company that bought the assets of Delifrance from JFC unit Fresh N' Famous Foods Inc. late last year.