Jollibee Group posts record P73.1-B system wide sales in Q2

ABS-CBN News

Posted at Aug 11 2022 11:59 AM

MANILA- Jollibee Foods Corp on Thursday said it achieved all-time high system wide sales in the second quarter at P73.1 billion, 44 percent higher compared to the same period last year. 

Net income attributable to equity holders of the parent company for the period reached P2.8 billion from P976 million in the same period last year, JFC said in a disclosure to the stock exchange. 

For the first half, net income amounted to P5.1 billion compared to P1.1 billion in the same period last year, the country's largest restaurant operator said. 

Operating income, meanwhile, also reached a new high of P3.1 billion in the second quarter, it added.

JFC said the jump in record system wide sales was driven by the 32.6 same store sales growth, 7.2 percent from new stores and new acquisitions and 5 percent from favorable foreign currency translation.

From the Philippine business, same store sales rose by 51.5 percent in Q2, the company said. It said all brands practically registered "strong double-digit growth" due to the bounce back in demand and return of foot traffic in most of the country.

International businesses also grew despite the decline in China's same store sales growth due to COVID-19 restrictions, JFC said. North America posted 7.5 percent growth while Europe, the Middle East and other parts of Asia (EMEAA) had 14 percent growth, it added. 

"We are pleased with our strong top line growth led by our Philippine business which delivered better-than-expected sales for the second quarter and got back to its pre-pandemic sales level," JFC Group CEO Ernesto Tanmantiong said. 

"We are very confident about the strong recovery of our China business in the months ahead, faster sales and profit growth of our other businesses abroad and sustained growth of our Philippine business," he added.

In the first semester it opened 230 new stores globally, JFC said.

JFC, which is among Asia’s largest food service companies, operates 18 brands in 34 countries.

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