Jollibee net income surges in fourth quarter of 2023 | ABS-CBN

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

Jollibee net income surges in fourth quarter of 2023

Jollibee net income surges in fourth quarter of 2023

ABS-CBN News

Clipboard

Photo released on August 4, 2023 shows a new Jollibee branch in Pilillia, Rizal that opened on March, 2023. Handout

MANILA -- Jollibee Foods Corporation on Tuesday said its net income grew sixfold in the fourth quarter of 2023 to P1.9 billion, bringing its full-year net income to P8.8 billion. 

Jollibee said system-wide sales also breached the P300 billion mark, hitting P345.3 billion. Philippine stores, which account for 61 percent of consolidated system-wide sales, delivered a 17.6 percent growth, while the international business grew by 14.4 percent.

Jollibee also said it opened 658 stores in 2023, growing its store network to 6,885 stores.

The food giant said that in 2024, it would focus on expanding the Jollibee brand internationally and growing exponentially in China in multiple lower tier cities.

ADVERTISEMENT

The company also said it will further grow its coffee and tea business as it sustains its strong growth and market leadership in the Philippines.

Jollibee was founded in the Philippines in 1978. The group now has 19 restaurants in its portfolio.

Jollibee recently opened Common Man Coffee Roasters at the Ayala Triangle Gardens in Makati City.

The Jollibee Group is also set to bring Tiong Bahru Bakery to the Philippines. The bakery is known for its croissants, coffee, and other baked goods produced using traditional techniques.

JFC, meanwhile, operates 3 foreign franchised brands in the Philippines, namely Burger King, Panda Express and Yoshinoya.

ADVERTISEMENT

The Jollibee Group owns Coffee Bean and Tea Leaf, and has an interest in Vietnamese brand Highlands Coffee.

JFC also has wholly owned brands including Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King and Hong Zhuang Yuan.

Jollibee has been named the second fastest-growing restaurant in the world by a global brand valuation consultancy.

It also landed on TIME magazine's list of World's Best Companies of 2023. 



ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.