Jollibee Foods Corp. (JFC) posted a 15 percent increase in its profit for the third quarter of the year on the back of higher revenues and improved operating margin.
JFC, the country's largest food service company, said its net income attributable to equity holders of the parent jumped to P1.17 billion for the third quarter of 2014 from the P1.02 billion posted in the same period last year.
Revenues reached P22 billion in the period, 11.6 percent higher than the P19.8 billion recorded last year.
Its operating margin improved to 6.4 percent this year from the 6.1 percent last year.
From January to September, JFC's net income attributable to equity holders of the parent surged 16.5 percent to P3.6 billion from the P3.1 billion in the same period in 2013.
JFC saw a 12 percent increase in its system wide sales, a measure of all sales to consumers, both from company-owned stores and franchised stores, as its Philippine business grew by 13 percent and the foreign business by 9.6 percent.
“The growth was driven by a 7 percent to 8 percent same store sales growth and a 5.7 percent growth in store network,” the company said in a disclosure to the stock exchange.
Same store sales growth refers to sales from restaurants that were already open for at least 15 months, excluding sales growth from new store opening.
For the first nine months of the year, JFC's sales rose by 13.6 percent consisting of a 13.4 percent domestic growth rate and a 14.5 percent growth abroad.
JFC operates the largest food service network in Philippines. The Jollibee Group opened 148 new stores in the first nine months of the year, of which 114 were in the Philippines and 34 were in foreign operations.
As of end-September, the JFC Group has 2,258 stores nationwide under the brands Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, and Burger King. It has a total of 2,849 stores worldwide.
2015 capex
JFC said its board of directors approved a capital expenditure budget of P9.1 billion for 2015, 42 percent higher than the estimated P6.3 billion spending this year.
The firm said that P6.7 billion of the amount will be spent for its operations in the Philippines, P1.7 billion for China and the balance for the US and Southeast Asia and the Middle East.
“The 2015 capital expenditures will be mostly for the store openings in the Philippines and foreign operations, store renovations in the Philippines and abroad, investments in commissary construction and commissary capacity increase in the Philippines,” JFC said.
It added that the investments will be financed by its cash reserves and cash expected to be generated from next year's operations.
- ABS-CBN News
JFC, the country's largest food service company, said its net income attributable to equity holders of the parent jumped to P1.17 billion for the third quarter of 2014 from the P1.02 billion posted in the same period last year.
Revenues reached P22 billion in the period, 11.6 percent higher than the P19.8 billion recorded last year.
Its operating margin improved to 6.4 percent this year from the 6.1 percent last year.
From January to September, JFC's net income attributable to equity holders of the parent surged 16.5 percent to P3.6 billion from the P3.1 billion in the same period in 2013.
JFC saw a 12 percent increase in its system wide sales, a measure of all sales to consumers, both from company-owned stores and franchised stores, as its Philippine business grew by 13 percent and the foreign business by 9.6 percent.
“The growth was driven by a 7 percent to 8 percent same store sales growth and a 5.7 percent growth in store network,” the company said in a disclosure to the stock exchange.
Same store sales growth refers to sales from restaurants that were already open for at least 15 months, excluding sales growth from new store opening.
For the first nine months of the year, JFC's sales rose by 13.6 percent consisting of a 13.4 percent domestic growth rate and a 14.5 percent growth abroad.
JFC operates the largest food service network in Philippines. The Jollibee Group opened 148 new stores in the first nine months of the year, of which 114 were in the Philippines and 34 were in foreign operations.
As of end-September, the JFC Group has 2,258 stores nationwide under the brands Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, and Burger King. It has a total of 2,849 stores worldwide.
2015 capex
JFC said its board of directors approved a capital expenditure budget of P9.1 billion for 2015, 42 percent higher than the estimated P6.3 billion spending this year.
The firm said that P6.7 billion of the amount will be spent for its operations in the Philippines, P1.7 billion for China and the balance for the US and Southeast Asia and the Middle East.
“The 2015 capital expenditures will be mostly for the store openings in the Philippines and foreign operations, store renovations in the Philippines and abroad, investments in commissary construction and commissary capacity increase in the Philippines,” JFC said.
It added that the investments will be financed by its cash reserves and cash expected to be generated from next year's operations.
- ABS-CBN News
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