Image via WikipediaJollibee Foods Corporation posted a 16.3 percent improvement in net income last year to P3.1 billion from P2.67 billion in 2009, boosted by higher profit margins and strong fourth quarter sales.
In a disclosure to the Philippine Stock Exchange, JFC said systemwide sales grew 10.2 percent to P70.25 billion from P63.73 billion in the previous year. Systemwide sales meausure all sales by both company-owned and franchised stores.
On the other hand, fourth quarter profits jumped 17.4 percent to P954 million while system-wide sales expanded 11.6 percent to P19.46 billion.
“Practically all our brands in all countries where we operate achieved growth in the fourth quarter of 2010 versus 2009 led by our businesses Yonghe King and Hong Zhuang Yuan in China (up 30 percent), and Jollibee International (up 25 percent),” said JFC chairman Tony Tan Caktiong.
Tan added that “the acquisition of Mang Inasal contributed five percentage points of worldwide sales growth. Its worldwide store network stood at 2,316 stores as of the end of 2010, 23 percent more than 2009 primarily due to the addition of 345 Mang Inasal stores.
“We are able to preserve and even slightly improve our profit margins despite the fast rising cost of labor, power and raw material,” he noted.
http://www.mb.com.ph/node/305627/jollibee-chalk
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