Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
MANILA -- Jollibee Foods Corporation (JFC) on Wednesday said its net income in the second quarter fell 16.6 percent to P2.3 billion, even as sales jumped 16.9 percent to P60.8 billion.
The company said income was down due to the absence of one-time gains from land conveyance and sale of land properties from 2022.
But excluding the one-offs, net income would have gone up 34.6 percent, the company told the stock exchange.
The fastfood giant said in the Philippines, sales grew by 14.5 percent, while sales from international stores increased by 20.9 percent.
ADVERTISEMENT
System-wide sales of JFC’s coffee and tea business increased by 11 percent, the company noted.
The China business posted its highest year-on-year incremental sales driven by consumption recovery, growing by 76.9 percent.
Jollibee chief financial officer Richard Shin said the company will continue to improve its margins by making operations efficient while speeding up the growth of its international business.
In June, Jollibee said it is looking to build 600 new stores globally and is eyeing faster expansion in the US and China to drive the company’s long-term growth.
ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
Our website is made possible by displaying online
advertisements to our visitors. Please consider supporting
us by disabling your ad blocker on our website.
