JFC income up 21.2%

HOMEGROWN fast-food giant Jollibee Foods Corp. grew its first-semester attributable net profit by 21.2 percent to P1.59 billion.

System-wide sales, or sales posted by both companyowned and franchised stores, went up by 13.5 percent yearon-year in the first semester to P44.5 billion. In the second quarter alone, system-wide sales rose by 12.1 percent.

In the second quarter, the Jollibee’s local business posted a 9.5-percent growth in system-wide sales, while its foreign business grew by 24.7 percent, with the China unit expanding by 30.9 percent. Businesses in Southeast Asia and the United States grew by 22.5 percent and 13.3 percent, respectively.

The Jollibee group opened 51 new stores in the country and 40 overseas in the first semester.

Its net operating income in the second quarter hit P1.07 billion, up by 7.8 percent yearon-year.

Net income attributable to equity holders of parent increased by 33 percent year-onyear in the second quarter to P921 million.

JFC’s profit margin after tax improved from 4.6 percent of revenue in the second quarter of 2011 to 5.3 percent of revenue in the second quarter of this year. For the first semester, the margin rose to 4.8 percent from 4.6 percent in the same period last year.

Ysmael Baysa, JFC chief finance officer, said the healthy same store sales growth in most regions—which was driven by higher sales volume, cost improvement, lower financing costs and tax savings—helped the company grew its net profit.

In its China businesses, he said the key challenges were same store sales growth and the high cost of labor, rent and utilities. August 14, 2012 Country United States Japan United Kingdom Hong Kong Switzerland Canada Singapore Australia Bahrain Saudi Arabia Brunei Indonesia Thailand UAE EU Korea China Denmark India Malaysia New Zealand Sweden Taiwan