Jollibee annual profit up 1.2 percent

Thursday, February 16, 2012

MANILA — The country's largest restaurant operator Jollibee Food Corp. (JFC) says its net profit rose 1.2 percent last year, when it bought new food chains and opened more stores.

The company reported Thursday a net profit of 3.253 billion pesos ($76 million) for 2011, up from 3.213 billion pesos ($75.2 million) in the previous year. It says sales rose 17 percent to 2.17 billion pesos ($1.9 billion).

Fourth quarter profit climbed 10.6 percent from a year earlier.

Fourth quarter sales rose 18 percent, with Philippine sales growing 17.8 percent and those abroad by 19 percent. China, Southeast Asia and the Middle East led sales growth overseas.

Last year, JFC invested P6 billion ($140 million) to open new stores, build new facilities and buy more brands. (AP)