Jollibee Foods Corp income up 16.1 percent in first half


Posted at Aug 14 2018 01:55 PM | Updated as of Aug 14 2018 02:10 PM

MANILA – Jollibee Foods Corp on Tuesday said it posted a net income attributable to shareholders of P4.05 from January to June, up 16.1 percent compared to the same period last year.

The operator of Chowking, Red Ribbon, Mang Inasal and several other restaurant chains, reported a P2.25 billion net income for the second quarter of 2018, JFC told the stock exchange. 

JFC said it opened 192 stores in the first half of 2018, spending P8.3 billion in capital expenditures and acquisitions. 

In April, Jollibee acquired 45 percent stake with US burger chain Smashburger raising its total shares to 85 percent and expanding its worldwide store network, JFC said. 

Jollibee Group's worldwide store network reached 4,279 as of June 30, 2018.