MANILA, Philippines – The country’s biggest fast-food operator said its profit hardly grew in 2011 despite a surge in the fourth quarter.
Jollibee Foods Corp. (JFC) told the local bourse that its net income attributable to equity holders rose half-a-percent to P3.21 billion last year from P3.198 billion in 2010. In the fourth quarter alone, its net income attributable to equity holders increased by 10 percent to P1.16 billion from the year before’s P1.05 billion.
System-wide sales rose 17 percent to P82.17 billion from P70.25 billion in 2010. In the fourth quarter alone, revenues grew 18 percent to P22.97 billion from P19.46 billion previously.
Newly acquired Mang Inasal and Burger King grew 9.2 percent, leading the 18 percent increase in the Jollibee group’s sales in the fourth quarter alone.
Overseas sales increased by 19 percent, with China operations growing 27.5 percent, and Southeast Asia and the Middle East by 23.3 percent.
JFC spent P6 billion, including P2 billion for the acquisition of brands such as Mang Inasal and Burger King.
source: interaksyon.com
