Jollibee net income rises 18.1 pct to P1.96B in 2nd quarter

ABS-CBN News

Posted at Aug 14 2017 01:20 PM | Updated as of Aug 14 2017 01:22 PM

MANILA - Jollibee Foods Corp, the country's largest fastfood operator, said Monday net income in the April to June period grew 18.1 percent, as sales grew despite the lack of election season demand.

Net income attributable to shareholders grew to P1.96 billion from P1.66 billion during the same period last year, bringing net income in the first half to P3.50 billion from P3.05 billion, Jollibee said in a stock exchange filing.

System-wide sales, which counts company-owned and franchised stores, grew 14.7 percent to P42.5 billion in the second quarter, bringing the first half total to P81.08 billion, a 13.5-percent growth from the same period in 2016, according to the filing.

Jollibee shares were up 0.74 percent to P218 pesos, reversing early losses, after the report was released.