Jollibee Group to triple biz in 5 years

JOLLIBEE Group to triple biz in 5 years
SunStar Business

JOLLIBEE Group president and chief executive officer Ernesto Tanmantiong reported that the company exceeded its profit outlook for the first quarter of 2024, driven by robust revenue growth of 11.3 percent that translated to 13.7 percent and 26.9 percent growth in operating income and net income attributable to equity holders of the parent company, respectively.

System-wide sales also grew by 10.4 percent to P86.8 billion in the first quarter of 2024, with both the Philippine and international markets delivering growth in double-digits.

The company’s full-year system-wide sales (SWS) for 2023 grew by 16.3 percent to P345.3 billion.

This was driven by a 10.6 percent growth in same-store sales and 5.4 percent from new stores.

As part of its vision to become among the top five restaurant companies in the world, Tanmantiong outlined the company’s bold strategic roadmap for the next five years.

The Jollibee Group said it will continue to execute its growth strategy, which includes scaling the business in four key areas: (1) expanding the Jollibee brand internationally; (2) growing its coffee and tea business; (3) exponentially growing in China; and (4) sustaining robust growth and market leadership in the Philippines. / PR

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