MANILA - Jollibee Foods Corp. on Tuesday told the local bourse that its profit went up by a third in the second quarter.
In a disclosure, JFC said earnings rose 33 percent to P921 million in the April to June period from P693 million in the same period last year.
This pushed the homegrown fast-food giant's net profit attributable to equity holders by 21.2 percent year-on-year to P1.59 billion in the first six months of the year from P1.31 billion in 2011.
System-wide retail sales, a measure of all sales to consumers both from company-owned and franchised stores, climbed 12.1 percent in the second quarter to P22.95 billion from last year’s P20.46 billion.
In the first half, system-wide retail sales expanded by 13.5 percent to P44.50 billion from P39.21 billion in 2011.
Ysmael Baysa, JFC chief financial officer, attributed the strong performance to healthy same-store sales growth in most regions driven by higher transaction count, cost improvements in the Philippines and China, lower financing costs and tax savings.
However, same-store sales growth and higher cost of labor, rent and utilities remain very important challenges in its businesses in China, Baysa added.
source: interaksyon.com