Jollibee’s Q3 Profit Up 7.3 Percent to Php1.3 Billion

PHILIPPINES – Jollibee Foods Corporation (PSE:JFC), the Philippines’ largest food service company generated in the third quarter of 2015 System Wide Sales of Php32.3 billion, the company said in a disclosure to the Philippine Stock Exchange.

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Sales growth accelerated to 13.7 percent versus the same period a year ago, from 9.5 percent in Q1 and 8.4 percent in Q2.

Sales increase was driven by a 6.1% increase in store network and about 7.6 percent same store sales growth on a worldwide basis.

Sales in the Philippines grew by 13.6 percent during the quarter versus a year ago, China by 9.7 percent, the US by 19.1 percent, and Southeast Asia and the Middle East by 25.2 percent. Total sales of foreign business grew by 14.2 percent.

“Sales growth accelerated to 13.7 percent in Q3 compared with 8.9 percent in H1 of the year. We look forward to opening a total of at least 300 stores in 2015 on a worldwide basis, a milestone in JFC’s history,” said Jollibee Foods Corporation CEO Ernesto Tanmantiong.

Jollibee Foods Corporation reported a net income attributable to equity holders of the Parent Company for the Q3 2015 of Php1.3 billion, 7.3 percent higher than the amount generated in the same period last year.

Operating income grew by 6 percent driven by a 13.6 percent increase in revenues, with gross profit margin at 18 percent, sale level as last year’s and better than in H1 of 2015 of 17.3 percent. – BusinessNewsAsia.com

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