Jollibee net profits rises in Q1

May 14, 20181 min read

Jollibee Foods Corp. said Friday net income rose 17.3 percent in the first 3 months of the year, as higher expenses offset growth in revenues, according to a stock exchange filing.

Net income attributable to shareholders grew to P1.8 billion in the first quarter from P1.5 billion during the same period in 2017, the country’s largest fast food operator said.

Gross revenues rose 19.4 percent to P35 billion while gross expenses rose 19.7 percent to nearly P32 billion, Jollibee said.

Jollibee shares were up 2 percent at noon, compared to a 2.47-percent increase in the main index.

Casual restaurant operator Max’s Group said Thursday net income fell 30 percent in the first quarter due to higher costs of raw materials and labor.

Inflation reached a 5-year peak in April and on Thursday, the Bangko Sentral ng Pilipinas raised the benchmark borrowing rate for the first time since September 2014.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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