Jollibee seeks to keep double-digit growth by opening new stores in PHL, China and US

Jollibee Foods Corp. intends to maintain double-digit growth in sales by opening more stores in the Philippines and abroad, a top official said on Friday.

 

The company will focus on growing its business in the Philippines, China and the US, said Jollibee Group  CEO Ernesto Tanmantiong during the annual stockholders' meeting.

 

"We think it's a good timing to grow our business. We have the resources to do this," Tanmantiong noted.

 

The company is spending P9.1 billion this year, of which will be used to set up new stores.

 

"That's what we need for to grow double-digits in sales," Jollibee Group CFO Ysmael Baysa said in a separate interview with reporters on the sidles of the stockeholders' meeting.

 

The company generated P117.9 billion in systemwide sales last year, up 13.3 percent on-year. – VS, GMA News