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

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<div><span class="fr-img-caption fr-fic fr-dib" style="width:900px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/20230804-jollibee-new-branches-HO-5.jpg" style="width:900px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="white-space:pre-wrap">Photo released on August 4, 2023 shows a new Jollibee branch in Pilillia, Rizal that opened on March, 2023. <em>Handout</em></span></span></span></span></div><p>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. </p><p>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.</p><p>Jollibee also said it opened 658 stores in 2023, growing its store network to 6,885 stores.</p><div><a href="https://news.abs-cbn.com/business/06/30/23/jollibee-eyes-600-new-stores-globally-growth-in-china-and-us" rel="noopener noreferrer" target="_blank">Jollibee eyes 600 new stores globally, growth in China and US</a></div><p>The food giant said that in 2024, it would focus on expanding the Jollibee brand internationally and growing exponentially in <span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">China in multiple lower tier cities.</span></p><p><span id="isPasted">The company also said it will further <span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">grow its coffee and tea business</span> as it sustains its </span>strong growth and market leadership in the Philippines.</p><div><a href="https://news.abs-cbn.com/business/08/22/23/jollibee-says-new-coffee-ventures-wont-compete-with-cbtl" rel="noopener noreferrer" target="_blank">JFC says Tiong Bahru Bakery, Common Man Coffee Roasters won&#x27;t compete with CBTL</a></div><p>Jollibee was founded in the Philippines in 1978. <span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">The group now has 19 restaurants in its portfolio.</span></p><p>Jollibee recently opened Common Man Coffee Roasters at the Ayala Triangle Gardens in Makati City.</p><p>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.</p><p>JFC, meanwhile, operates 3 foreign franchised brands in the Philippines, namely Burger King, Panda Express and Yoshinoya.</p><p>The Jollibee Group owns Coffee Bean and Tea Leaf, and has an interest in Vietnamese brand Highlands Coffee.</p><p>JFC also has wholly owned brands including Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King and Hong Zhuang Yuan.</p><p>Jollibee has been named the second fastest-growing restaurant in the world by a global brand valuation consultancy.</p><div><span id="isPasted">It also landed on <span id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">TIME magazine&#x27;s list of World&#x27;s Best Companies of 2023.</span> </span></div><div><a href="https://news.abs-cbn.com/business/2024/2/27/jollibee-named-second-fastest-growing-restaurant-in-the-world-1522" rel="noopener noreferrer" target="_blank">Jollibee named second fastest-growing restaurant in the world</a></div><div><a href="https://news.abs-cbn.com/business/09/15/23/6-philippine-firms-make-it-to-times-best-companies-list" rel="noopener noreferrer" target="_blank">6 Philippine firms make it to TIME&#x27;s list of World&#x27;s Best Companies</a></div><div><span id="isPasted"></span><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/Dk1l-FsVU4s?&amp;ab_channel=ABS-CBNNewsautoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

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

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

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

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Jollibee net income surges in fourth quarter of 2023

Jollibee net income surges in fourth quarter of 2023

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Published Mar 12, 2024 11:00 AM PHT

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