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
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Showing posts with label JFC. Show all posts
Showing posts with label JFC. Show all posts
Thursday, November 13, 2014
Saturday, August 16, 2014
Jollibee says all Metro Manila branches to open on Sunday: #ChickenSadNoMore?
Jollibee Foods Corp. on Friday said
all Metro Manila branches will be open by Sunday, as operations are
returning to normal after a systems upgrade compelled at least 72
branches of the fastfood giant to close down while others continued to
operate on limited menu.
The fastfood
chain will have bestsellers Chickenjoy, JollySpaghetti and Yumburger
back in stock and on the menu, but some outlets will still be offering a
limited menu, the company said in a statement.
The JFC Group which owns Jollibee disclosed that it recently upgraded
its computer systems last August 1, but was bogged down in the process
by technical difficulties. As a result, there was a slowdown in
deliveries of products from the Jollibee commissary to its outlets.
Jollibee vice president for Metro North Operations Jojo Subido said
contingency measures were immediately implemented to resolve the
problem.
“Our team has been working round the
clock to catch up and put to speed our commissary’s delivery schedule to
enable all our stores to open by this weekend,” Subido said.
Jollibee has sufficient food supplies and raw materials in its
centralized commissary in Laguna, contrary to previous reports of a
possible shortage in the company's chicken supply.
Subido said the fastfood chain does not import chicken and other meat
products from China, allaying fears that its problem was somehow tied to
the recent food safety scare in China that impacted on the operations
of Mcdonald's and KFC.
“Our chicken requirements
are currently sourced from our accredited suppliers such as San Miguel
Foods Corporation, Foster Foods Inc., and GAMA Foods Corporation which
have all passed our strict quality standards,” Subido noted.
Social networking sites recently went abuzz after various Jollibee
restaurants in Metro Manila were closed due to the lack of popular menu
offerings, particularly ChickenJoy.
About 6 percent of
Jollibee's nationwide sales were not served in the first week in August.
Still, same store sales in the same period grew by 4 percent
year-on-year.
In the first six months of 2014,
revenues were up 14.8 percent to P43.702 billion from P38.068 billion
in the same comparable period last year while system wide sales – which
reflects sales from both company-owned and franchised restaurants –
increased by 14.3 percent to P57.054 billion from P49.903 billion.
As of end-June, Jollibee was operating 2,244 stores in the Philippines and 589 stores overseas.
Saturday, June 28, 2014
Jollibee eyes US acquisition, aggressive expansion in existing markets
The Philippines' leading fast-food chain is looking to expand its footprint in the United States, even as it unveils another wave of store openings back home.
On the sidelines of its stockholders meeting today, Jollibee Foods Corp (JFC) chairman Tony Tan Caktiong told reporters that the company "would like to have more play in the US market."
"Probably we are looking at a certain acquisition in the US. In terms of when we see it, there's no timetable yet. We are open to anything that may come up. It could be in the same category. We are still very flexible. More important is we want to go to a brand that is already growing. We don't want to go in a brand that needs to be turned around," Tan Caktiong said.
Ysmael Baysa, JFC chief financial officer, said the company's operation in the US was "profitable," with sales growing by 9.9 percent in 2013.
JFC's operation in Asia -- particularly in Brunei, Singapore, Hong Kong and the Middle East -- are also making money, except those in Vietnam and China.
"In China, the brand is profitable, but we have a lot of overhead because of our central plants and head office there. It 's quite manageable, not big numbers," Baysa said, referring to the losses of Jollibee's China operations.
JFC's sales growth in the Philippines expanded by 11.3 percent in 2013, while that in China was up 19.7 percent. Sales in the rest of Southeast Asia and the Middle East jumped by 32.2 percent.
Baysa said JFC has allotted P6.3 billion for capital expenditures to finance the opening of 300 stores this year, of which 200 will be in the Philippines and 100 abroad.
"The business continues to be very strong both in the Philippines and worldwide. We continue to experience double digit growth rates in some branch just like in several quarters," Baysa said.
Tan Caktiong said the outlook of the company is very positive this year because the Philippine economy is very strong.
"We look forward to another year of record performance in 2014, as we accelerate our profitable growth, expand our business in key markets around the world and reinforce our competitive strength," he said.
The government is aiming to grow the Philippine economy by 6.5-7.5 percent this year.
In the first quarter of the year, the homegrown fast food giant recorded a net income of P1.08 billion, up 20.50 percent from a year ago's P895 million.
System-wide retail sales, a measure of all sales to consumers from company-owned and franchised stores, jumped 14.6 percent to P27.31 billion from P23.84 billion in 2013 -- making the first quarter's performance the highest quarterly organic sales growth in 5 years.
The Philippine business posted a 12.3 percent expansion in system-wide sales on the back of a double-digit growth of Greenwich, Red Ribbon and Mang Inasal, coupled with higher same-store sales due to increased volume and consumer visits. The Jollibee group also raised selling prices to cover the increase in cost of raw materials.
Compared to domestic operations, JFC’s international business expanded at a faster pace of 24.3 percent with Southeast Asia and the Middle East business growing by 39.1 percent, China by 22.3 percent, and the US by
- Interaksyon
On the sidelines of its stockholders meeting today, Jollibee Foods Corp (JFC) chairman Tony Tan Caktiong told reporters that the company "would like to have more play in the US market."
"Probably we are looking at a certain acquisition in the US. In terms of when we see it, there's no timetable yet. We are open to anything that may come up. It could be in the same category. We are still very flexible. More important is we want to go to a brand that is already growing. We don't want to go in a brand that needs to be turned around," Tan Caktiong said.
Ysmael Baysa, JFC chief financial officer, said the company's operation in the US was "profitable," with sales growing by 9.9 percent in 2013.
JFC's operation in Asia -- particularly in Brunei, Singapore, Hong Kong and the Middle East -- are also making money, except those in Vietnam and China.
"In China, the brand is profitable, but we have a lot of overhead because of our central plants and head office there. It 's quite manageable, not big numbers," Baysa said, referring to the losses of Jollibee's China operations.
JFC's sales growth in the Philippines expanded by 11.3 percent in 2013, while that in China was up 19.7 percent. Sales in the rest of Southeast Asia and the Middle East jumped by 32.2 percent.
Baysa said JFC has allotted P6.3 billion for capital expenditures to finance the opening of 300 stores this year, of which 200 will be in the Philippines and 100 abroad.
"The business continues to be very strong both in the Philippines and worldwide. We continue to experience double digit growth rates in some branch just like in several quarters," Baysa said.
Tan Caktiong said the outlook of the company is very positive this year because the Philippine economy is very strong.
"We look forward to another year of record performance in 2014, as we accelerate our profitable growth, expand our business in key markets around the world and reinforce our competitive strength," he said.
The government is aiming to grow the Philippine economy by 6.5-7.5 percent this year.
In the first quarter of the year, the homegrown fast food giant recorded a net income of P1.08 billion, up 20.50 percent from a year ago's P895 million.
System-wide retail sales, a measure of all sales to consumers from company-owned and franchised stores, jumped 14.6 percent to P27.31 billion from P23.84 billion in 2013 -- making the first quarter's performance the highest quarterly organic sales growth in 5 years.
The Philippine business posted a 12.3 percent expansion in system-wide sales on the back of a double-digit growth of Greenwich, Red Ribbon and Mang Inasal, coupled with higher same-store sales due to increased volume and consumer visits. The Jollibee group also raised selling prices to cover the increase in cost of raw materials.
Compared to domestic operations, JFC’s international business expanded at a faster pace of 24.3 percent with Southeast Asia and the Middle East business growing by 39.1 percent, China by 22.3 percent, and the US by
- Interaksyon
Thursday, May 15, 2014
Jollibee 1Q net income up a fifth as sales hit 5-year high
Jollibee Foods Corp (JFC) bucked cost pressures to push earnings by a fifth, as organic sales growth accelerated to a five-year high in the first three months of the year.
In a disclosure to the Philippine Stock Exchange, the homegrown fast food giant said its attributable profit rose 20.50 percent to P1.08 billion in the January to March period from P895 million in the same three months of last year.
System-wide retail sales, a measure of all sales to consumers from company-owned and franchised stores, jumped 14.6 percent, the highest quarterly organic sales growth in five years, to P27.31 billion from P23.84 billion in 2013.
The Philippine business posted a 12.3 percent expansion in system wide sales on the back of a double-digit growth of Greenwich, Red Ribbon and Mang Inasal, coupled with higher same-store sales due to increased volume and consumer visits. The Jollibee group also raised selling prices to cover the increase in cost of raw materials.
Compared to domestic operations, JFC’s international business expanded at a faster pace of 24.3 percent with Southeast Asia and the Middle East business growing by 39.1 percent, China by 22.3 percent, and the US by 19.5 percent.
Same-store sales of foreign businesses remained strong with Vietnam, Hong Kong and Saudi Arabia chalking up double-digit growth rates and China and the US improving by five percent and six percent, respectively.
Operating income climbed 17.7 percent despite cost pressures from higher commodity prices. As a result, JFC raised prices in the latter part of 2013 and the first quarter of 2014 but they were not sufficient to recover the increase in cost of raw materials.
"JFC will take the necessary steps to sustain healthy profit margins including implementing cost improvement and price adjustments in the balance of 2014 and in the quarters ahead," the listed company said.
The Jollibee group opened 55 new stores across its various brands in the first quarter, 42 in the Philippines and 13 overseas.
JFC operates the largest food service network in the Philippines with 2,217 stores at end-March, comprising the flagship Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King. It was operating 588 stores abroad, including Yonghe King, Hong Zhuang Yuan and San Pin Wang, bringing its store network to 2,805 stores worldwide.
JFC has a 50 percent interest in joint ventures for Highlands Coffee (Vietnam, Philippines) at 77, Pho 24 (Vietnam, Indonesia, Philippines, Hong Kong, Macau and Japan) at 58 and 12 Sabu (China) at 12.
In a disclosure to the Philippine Stock Exchange, the homegrown fast food giant said its attributable profit rose 20.50 percent to P1.08 billion in the January to March period from P895 million in the same three months of last year.
System-wide retail sales, a measure of all sales to consumers from company-owned and franchised stores, jumped 14.6 percent, the highest quarterly organic sales growth in five years, to P27.31 billion from P23.84 billion in 2013.
The Philippine business posted a 12.3 percent expansion in system wide sales on the back of a double-digit growth of Greenwich, Red Ribbon and Mang Inasal, coupled with higher same-store sales due to increased volume and consumer visits. The Jollibee group also raised selling prices to cover the increase in cost of raw materials.
Compared to domestic operations, JFC’s international business expanded at a faster pace of 24.3 percent with Southeast Asia and the Middle East business growing by 39.1 percent, China by 22.3 percent, and the US by 19.5 percent.
Same-store sales of foreign businesses remained strong with Vietnam, Hong Kong and Saudi Arabia chalking up double-digit growth rates and China and the US improving by five percent and six percent, respectively.
Operating income climbed 17.7 percent despite cost pressures from higher commodity prices. As a result, JFC raised prices in the latter part of 2013 and the first quarter of 2014 but they were not sufficient to recover the increase in cost of raw materials.
"JFC will take the necessary steps to sustain healthy profit margins including implementing cost improvement and price adjustments in the balance of 2014 and in the quarters ahead," the listed company said.
The Jollibee group opened 55 new stores across its various brands in the first quarter, 42 in the Philippines and 13 overseas.
JFC operates the largest food service network in the Philippines with 2,217 stores at end-March, comprising the flagship Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King. It was operating 588 stores abroad, including Yonghe King, Hong Zhuang Yuan and San Pin Wang, bringing its store network to 2,805 stores worldwide.
JFC has a 50 percent interest in joint ventures for Highlands Coffee (Vietnam, Philippines) at 77, Pho 24 (Vietnam, Indonesia, Philippines, Hong Kong, Macau and Japan) at 58 and 12 Sabu (China) at 12.
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