Jollibee Group nets P8.87B in Jan.-Sept. 2024, up 22.9%

Homegrown fast-food and casual dining chains giant Jollibee Food Corp. saw a double-digit growth in its bottom line in the first nine months of 2024 driven by both its local and international operations.

In a disclosure to the Philippine Stock Exchange on Tuesday, Jollibee Group reported a net income of P8.876 billion in the January to September period, up 22.9% from P7.225 billion in the similar nine-month period last year.

System wide sales of the company also grew to P281.108 billion, up 12% from P251.094 billion year-on-year; while revenues stood at P196.248 billion, up 10.6% from P177.41 billion a year earlier.

In the third quarter alone, Jollibee Group CEO Ernesto Tanmantiong said that its flagship Jollibee brand continued to show strength with system wide sales growing 12.6% and “has over 1,700 stores globally and accounts for 51% of the group’s organic system wide sales.”

As of end-September 2024, Jollibee Groups store network grew by 42.8% to 9,598, of which 3,340 are in the Philippines and 6,258 are overseas. — BAP, GMA Integrated News