Jollibee posts ‘record’ 36.4% net income growth in Q3

Its net income stood at P2.14b.

Jollibee Foods Corporation (JFC) reported its net income grew by 36.4% to P2.14b in the third quarter of the year.

Over the same period, its revenue increased by nearly 50% to P55.4b, whilst its systemwide sales rose by 51.3% to P77.8b.

All regions registered double-digit sales growth driven by strong same store sales and store network growth. Our beverage business composed of CBTL, Highlands Coffee and Milksha, which currently accounts for 30% of the JFC Group’s consolidated store network and 15% of consolidated system wide sales, generated a 90.6% year-on-year growth in systemwide sales in the third quarter,” JFC CEO Ernesto Tanmantiong said.

“We continue to see a strengthening of our sales globally and are confident that we can deliver according to our full-year outlook.”

For 2022, the JFC Group sees its store network increase by 8%-10% year-on-year, whilst its systemwide sales and revenue is expected to sustain its double-digit growth of 35%-40%.

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