Jollibee Foods Q3 net income up 13.6%

Homegrown fast-food chain operator Jollibee Foods Corp. (JFC) on Monday reported a 13.6% growth in its bottom line for July to September, as the company saw a record-high operating income for the third straight quarter.

In a regulatory filing, JFC said its net income attributable to equity holders climbed to P2.434 billion from P2.142 billion, as systemwide sales grew 11.8% to P86.963 billion, and revenues by 11.0% to P61.531 billion.

“Both our Philippine and international businesses achieved strong operating profit growth reflecting the strength and resilience of our brands in an environment that remains volatile and challenging,” JFC chief executive officer Ernesto Tanmantiong said.

The Philippine business posted a 16.5% increase in systemwide sales and a 13.0% in same-store sales growth, while the international business saw a 5.4% increase in systemwide sales, and 2.6% in same-store sales.

“While the external environment has not improved, we remain confident in our ability to deliver sustainable growth as we continue to focus on what we can control, invest in line with long-term strategy, prudently manage our expenses, and drive efficiencies in our organization,” JFC chief financial officer Richard Shin said.

The year-to-date net income attributable to equity holders saw a 5.7% decline to P6.823 billion, in the absence of one-time gains. Systemwide sales jumped 19.1% to P251.094 billion, while revenues rose by 18.0% to P177.410 billion.

The company ended the third quarter with 6,720 stores across the globe, including 3,295 in the Philippines and 3,425 international stores.

Its brands include Jollibee, Chowking, Greenwich, Red Ribbon, Yong He King, Mang Inasal, Burger King, Highlands Coffee, PHO24, Smashburger, Tim Ho Wan, Tortazo, The Coffee Bean & Tea Leaf, Panda Express, Yoshinoya, and Milksha.—AOL, GMA Integrated News