, Philippines
Source: JFC website

JFC posts 26.4% net income growth in 2022

The Philippine-based food chain also recorded a sales growth of 40.2%.

Jollibee Foods Corporation (JFC) reported its net income attributable to equity holders grew by 26.4% year-on-year to P60b, approximately US$109.1m, in 2022.

The food chain’s revenues stood at P211.9b, or US$3.85b, reflecting a 38%YoY growth over the same period. 

“The JFC Group delivered another year of strong growth in challenging macroeconomic conditions,” JFC CEO, Ernesto Tanmantiong, said. 

“System-wide sales (SWS) and revenue for the entire year grew by 40.2% and 38.0%, respectively, both at the high end of our 35% to 40% guidance range for the year.” 

Read more: JFC net income skyrockets to $43.9m in Q1 2022

Tanmantiong noted JFC’s 2022 sales growth was driven by 27% same-store sales growth (SSS), 6.1% from new stores, the impact of the Milksha acquisition, and 5.2% contributed by foreign currency translation gain. 

Dine-in sales also improved significantly as health restrictions are eased.

“The JFC Group demonstrated strong operating leverage in 2022 with store and manufacturing costs and operating expenses declining by 2.6% and 0.2% of revenues, respectively. Despite industry-wide headwinds, margins for the 4th quarter remained resilient due to pricing actions and cost management initiatives,” Richard Shin, JFC Chief Financial Officer, said.

“The JFC Group also stepped-up investments in brand building as well as organization capabilities, particularly for our international business which will help drive profitable growth over time.”


Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
Thai developer says malls stand out as ‘offline super apps’
The tangible business model for entertainment, dining, and retail under one roof still works, and improves with technology.