Jollibee Foods Corporation
Fastfood giant Jollibee Foods Corp. (JFC) is accelerating its local and foreign store expansion next year that will be supported by a record PPH6 billion (USD134.7 million) capital spending, a top company executive said.
“Normally, we would grow the store opening by at least 10 percent. If we open 200 this year, you add 20 stores so it will be 220 (branches next year),” JFC chief financial officer Ysmael Baysa told reporters said.
Fastfood giant Jollibee Foods Corp. (JFC) is expanding its footprint in the premium quick service restaurant business in the country.
“We are actually expanding Burger King that is geared for the AB market,” JFC chief financial officer Ysmael Baysa told reporters.
The listed fastfood chain will open 10 to 15 Burger King branches next year, fasttracking its expansion from 10 opened this year, Baysa said. As of end-September, the company had 29 Burger King stores nationwide.
Robust sales in both existing branches and new stores during the third quarter propelled fastfood giant Jollibee Foods Corp.’s profits up 27 percent to PHP3.12 billion (USD73.3 million) in the nine months to September this year.
The homegrown fastfood chain told the local bourse that its net income improved 15.9 percent to PHP1.01 billion (USD23.1 million) in the third quarter.
Fastfood giant Jollibee Foods Corp. (JFC) aims to be the largest homegrown quick service restaurant chain in Asia by 2020. The long-term goal will be supported by continuous store expansions and acquisitions of several more brands abroad, an executive said.
“We hope in the next seven years to achieve being the largest,” JFC chief financial officer Ysmael V. Baysa said in an interview.
Strong sales in existing stores and new branches globally boosted the profits of fastfood giant Jollibee Foods Corp. (JFC) in the second quarter.
More product offerings and continuous expansion will allow the country’s largest fastfood chain to continue its global growth, its top executive said.
In a disclosure, JFC said its net income climbed 32.4 percent to PHP1.21 billion (USD27.8 million) from PHP915 million (USD21 million) a year ago.
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.