Jollibee Foods Corp. (JFC), the largest food service firm in the country, capped 2013 with P4.64-billion earnings on the back of huge system wide sales for the whole year.
System wide sales is the measure of the company’s overall sales to consumers.
During the fourth quarter of 2013, the profit of JFC rose 20.3 percent to P1.52 billion, while it netted P4.64 billion in full-year 2013, up 24.5 percent from the P3.7 billion it recorded in 2012.
Specifically, system wide retail sales of the listed company both from company-owned and franchised stores rose by 13.8 percent in the fourth quarter and by 12.8 percent in 2013, reaching P104.1 billion.
In the fourth quarter of 2013, JFC’s system wide sales in the Philippines rose by 12.2 percent, China by 19.2 percent, the United
States by 17.2 percent, Southeast Asia and the Middle East by 35.3 percent, led by Vietnam that grew by 40.2 percent, bringing in an increase of 21.2 percent to the total foreign business of the firm.
Ernesto Tanmantiong, JFC chief operating officer and incoming chief executive officer, said that in the fourth quarter of last year alone, the company opened a total of 98 new stores, the highest number of new stores opened in one quarter in JFC’s 35-year history.
“The company increased its sales by 12.8 percent, the highest organic sales growth in six years, enabling JFC to breach P100-billion sales mark for the first time. We grew profit by 24.5 percent, the fastest growth rate in seven years. Our progress in building the business has been taking place across our brands in different countries,” Tanmantiong said.
“In the years ahead, we look forward to further strengthening our brands, and to accelerate our profitable growth by keeping our intense focus on the fundamentals of our business for benefit of our customers,” he added.
JFC had revenues of P22.4 billion for the fourth-quarter 2013, or a 14.7-percent increase from the P19.6 billion it logged in the same period in 2012, while for the full-year 2013, JFC registered P80.3-billion revenues, up 13 percent from the P71.1 billion of 2012.
Spending a total of P4.1-billion capital expenditures last year, JFC opened a total of 235 new stores.
For 2014, JFC allotted P6.3 billion in capital expenditures for new store opening and existing renovations both in the Philippines abroad.
This amount, according to the company, is more than double the same type of actual spending in 2013.