Jollibee Q1 net income up 12.6% on store network growth, same store sales

Jollibee Foods Corporation (JFC) first quarter 2015 net income grew by 12.6 percent to P1.236 billion from P1.098 billion of last year's first three months as the system-wide sales of its Philippine business expanded by 9.5 percent.

 

Sales was “driven by a 5.3 percent growth in store network and about 5 percent growth in same store sales,” the food service giant said Wednesday in a news release on the highlights of its first quarter operations.

 

“We look forward to improving raw material price trends and higher growth rate of our store network in the months ahead,” Jollibee chief financial officer Ysmael Baysa said.

 

In the first quarter, the whole Jollibee Group launched 60 stores, of which 49 are in the Philippines and 11 are overseas. The most recent restaurant opening (on May 4) was a Jollibee outlet in The Dubai Mall in the United Arab Emirates.

 

JFC in the Philippines has 869 Jollibee restaurants, 419 Chowking outlets, 216 Greenwich stores, 334 Red Ribbon bakeshops, 452 Mang Inasal outlets, and 45 Burger King branches.  — ELR, GMA News