Jollibee Philippines Q3 profit rises
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Philippine fast-food franchise Jollibee posted an increase in profit of nearly 20 per cent in its third quarter. Backed by strong sales, the firm has posted a 19.2 per cent rise in net income attributable to shareholders to PHP6.09 billion (US$114.5 million).
According to Jollibee’s CFO Ysmael Baysa, the company’s global sales have seen strong growth this year, including in its home base in the Philippines, partly driven by concerted efforts to expand Jollibee’s store network.
“We look forward to the recovery of Jollibee profit margins in the Philippines next year and the significant improvement in the profit performance of our new businesses in the next one to two years,” he said.
Beyond its own franchise, Jollibee operates the Chowking, Greenwich, Red Ribbon and Smashburger brands in various worldwide locations. It currently has 3003 stores worldwide, with more set to open in the immediate future in Malaysia and Guam.
Questions & Answers
Q.How much profit did Jollibee make in its third quarter?
How much profit did Jollibee make in its third quarter?
Jollibee’s net income attributable to shareholders rose by 19.2 per cent to PHP6.09 billion, which equates to US$114.5 million. This increase was driven by strong sales across the business.
Q.What is Jollibee's strategy for increasing its profits?
What is Jollibee's strategy for increasing its profits?
The company has seen strong global sales growth this year, including in the Philippines, partly due to efforts to expand its store network. They also anticipate profit margin recovery in the Philippines next year.
Q.What other brands does Jollibee operate globally?
What other brands does Jollibee operate globally?
Beyond its own Jollibee franchise, the company operates several other brands. These include Chowking, Greenwich, Red Ribbon, and Smashburger in various locations worldwide.
Q.Where are Jollibee's newest stores set to open?
Where are Jollibee's newest stores set to open?
Jollibee currently has 3003 stores globally. More new stores are planned to open soon in Malaysia and Guam, continuing the company's network expansion efforts.
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