Jollibee earns P4.64-b in 2013
Top fast-food firm Jollibee Foods Corporation reported a 24.5 percent hike in attributable net income last year to P4.64 billion from the P3.73 billion earned in 2012 on the back of strong sales growth.
In a disclosure to the Philippine Stock Exchange, Jollibee said its system-wide retail sales, a measure of all sales to consumers from both company-owned and franchised stores, rose by 12.8 percent in 2013, reaching P104.1 billion from P92.27 billion in 2012.
“We opened a total of 98 new stores in the fourth quarter of 2013, the highest number of new stores opened in one quarter in JFC’s 35-year history,” said JFC chief operating officer and incoming chief executive officer Ernesto Tanmantiong.
For 2014, JFC has allotted P6.3 billion in capital expenditures (Capex) for new store opening and existing renovations both in the Philippines abroad. This amount is more than double the same type of actual spending in 2013.
JFC opened a total of 235 new stores in 2013 and spent P4.1 billion in capital expenditure.
Tanmantiong noted that its 12.8 percent sales growth was the highest organic sales growth in six years, enabling JFC to breach P100 billion sales mark for the first time.
“We grew profit by 24.5 percent, the fastest growth rate in seven years. Our progress in building the business has been taking place across our brands in different countries,” Tanmantiong said.
He added that, “in the years ahead, we look forward to further strengthening our brands and to accelerating our profitable growth by keeping our intense focus on the fundamentals of our business for benefit of our consumers.”
In the fourth quarter of 2013, system wide sales in the Philippines rose by 12.2 percent, China by 19.2 percent, the United States by 17.2 percent, Southeast Asia and the Middle East by 35.3 percent, led by Vietnam that grew by 40.2 percent.
Total foreign business increased sales by 21.2 percent.
Worldwide same stores sales growth for the fourth quarter versus a year ago was eight to nine percent, practically all from higher volume of customers and purchases per store.