JFC says revenues up 28.5 pct, net income down 10.6 pct in Q1 | ABS-CBN
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JFC says revenues up 28.5 pct, net income down 10.6 pct in Q1
JFC says revenues up 28.5 pct, net income down 10.6 pct in Q1
ABS-CBN News
Published May 10, 2023 10:43 AM PHT
MANILA — Jollibee Foods Corp said on Wednesday its consolidated revenues jumped 28.5 percent in the first quarter but its net income attributable to parent declined by 10.6 percent to P2.1 billion.
MANILA — Jollibee Foods Corp said on Wednesday its consolidated revenues jumped 28.5 percent in the first quarter but its net income attributable to parent declined by 10.6 percent to P2.1 billion.
System wide sales grew 31.1 percent for the quarter compared to the same period last year, JFC said in a disclosure to the stock exchange.
System wide sales grew 31.1 percent for the quarter compared to the same period last year, JFC said in a disclosure to the stock exchange.
Operating profit also grew by 80.9 percent, it said.
Operating profit also grew by 80.9 percent, it said.
First quarter same store sales (SSS) in the Philippines meanwhile grew 31.6 percent while international SSS grew 8.8 percent, the country's largest restaurant operator said.
First quarter same store sales (SSS) in the Philippines meanwhile grew 31.6 percent while international SSS grew 8.8 percent, the country's largest restaurant operator said.
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"We continue to invest in new stores that will help drive sustainable value for our shareholders. We opened 111 stores and grew store network by +4/7 percent versus prior year. We are on track to achieving our 550-600 new store target for 2023," JFC CEO Ernesto Tanmantiong said.
"We continue to invest in new stores that will help drive sustainable value for our shareholders. We opened 111 stores and grew store network by +4/7 percent versus prior year. We are on track to achieving our 550-600 new store target for 2023," JFC CEO Ernesto Tanmantiong said.
As of the end of March, JFC said it operated 6,542 stores worldwide, out of which 3,281 are in the Philippines while 3,261 are spread globally.
As of the end of March, JFC said it operated 6,542 stores worldwide, out of which 3,281 are in the Philippines while 3,261 are spread globally.
JFC aims to become among the top 5 global restaurant operators.
JFC aims to become among the top 5 global restaurant operators.
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