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By Darwin G. Amojelar, Reporter
THE fast-food industry sees rosy earnings this
year given the Philippines’ healthy macroeconomic environment.
On the sideline of the Ernst & Young
Entrepreneur of the Year awards, Tony Tan Caktiong, Jollibee Foods
Corp. chairman and chief executive, said 2007 will be good for
businesses across industries because of rising spending during the
election season and general improvements in the economy.
“It is a good year because it is an election
year, there is a lot of spending and this is good for all
industries,” he told reporters.
Last year Jollibee opened 162 stores worldwide,
139 of which are in the Philippines and 23 overseas. New outlets
launched last year were 35 percent higher than the 120 stores it
opened the previous year.
Caktiong earlier said sales remained robust in
the first one and a half months of 2007, with the company set to
launch new products and marketing campaigns.
The company posted profits of P2.146 billion
last year. This was 27 percent higher than the P1.69 billion seen
the previous year.
French Baker, Inc. likewise was upbeat about
economic prospects. Johnlu Koa, the company’s president and chief
executive, projected between 5-percent and 7-percent growth in sales
revenue this year owing to election-related spending.
“But even without the elections we expect
rosy prospects, partly because of goodwill with consumers, because
the government is communicating statistics to the people. The
inflation is good, foreign exchange and the economy,” he said.
“We are not afraid of investing anymore, and
the youth market is dictating what they are going to buy, where they
are going to eat,” he added.
Koa also said that French Baker plans to put up
five more branches in Luzon this year at a cost of P50 million.
Its 32nd store in SM Sta. Mesa will be opened
later this month.
“We are also looking at foreign locations
like Guam, but there is nothing final on outside locations yet,”
he said.
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