JOLLIBEE Foods Corp. (JFC) reported a 13.6 percent net income growth in the third quarter of this year.
JFC said its net income attributable to equity holders climbed to P2.434 billion from P2.142 billion, as systemwide sales grew 11.8 percent to P86.963 billion, and revenues by 11 percent to P61.531 billion.
Both its Philippines and international businesses, according to JFC chief executive officer Ernesto Tanmantiong, achieved strong operating profit growth reflecting the strength and resilience of its brands in an environment that remains volatile and challenging.
Overall system-wide sales for the quarter grew by 11.8 percent driven by the robust performance of the Philippine business which posted a 16.5 percent system-wide sales growth and a 13 percent same-store sales growth.
The international business saw a growth of 5.4 percent in system-wide sales and 2.6 percent in same-store sales.
The Jollibee brand, which has over 1,600 stores globally and accounts for 49 percent of JFC’s system-wide sales, grew by 16.7 percent in the third quarter.
JFC opened 429 stores, of which 365 stores are in the international markets.