Jollibee Foods Corp. books 16.5% jump in nine-month income

Jollibee Foods Corp. on Thursday said net income attributable to equity holders of the parent company jumped 16.5 percent in the first nine months of the year to P3.64 billion from P3.124 billion a year earlier.

 

The fast food operator made a net income attributable to equity holders of the parent company of P1.172 billion in the third quarter, up 15.1 percent from P1.019 billion in the same comparable period.

 

Company-owned and franchised stores registered more than P28 billion of system wide retail sales – a measure of all sales to consumers – in the third quarter, a 12.2 percent increase from P25.32 billion.

 

A capital expenditure of P9.1 billion for 2015 was approved by its board of directors on Nov. 12.

 

The capex, 42 percent higher from estimated spending of P6.3 billion this year, will be allotted for store openings and renovations in domestically and abroad, investments in commissary construction and commissary capacity increase in the Philippines.

 

It will allot P6.7 billion for the Philippines P1.7 billion for China and the rest for US, Southeast Asia and Middle East.

 

As of end September, Jollibee Foods Corp., operates 2,258 restaurant outlets in the country – Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King – and 591 abroad. – Kathryn Mae P. Tubadeza/VS, GMA News