Home-grown fast food operator Jollibee Foods Corp. (JFC) said Friday it is on track to post double-digit growth in both its top and bottom line this year and the next, following the sustained expansion seen in the third quarter of the year.
"We are on track to deliver double-digit top and bottom-line growth, continuing the double-digit growth of 2024. Equally, we are confident to continue the double-digit growth in 2026," Jollibee Group Chief Financial and Risk Officer Richard Shin said.
Jollibee Group reported a 4.0% increase in its net income for the third quarter of the year to P3.103 billion, on the back of the sustained same-store sales growth during the period. System-wide sales increased by 16.8% to P115.072 billion, and revenues grew 12.8% to P76.370 billion.
"Our Q3 performance reflects the continued strength of our diversified brand portfolio and disciplined execution across geographies," Jollibee Group chief executive officer Ernesto Tanmantiong said.
"We remain focused on long-term value creation, expanding our global footprint, and delivering consistent sustainable returns to our shareholders," he added.
Jollibee Group manages and operates a portfolio which covers 19 brands across 33 countries. It opened 754 stores so far this year, 583 of which franchised, bringing its total store network to 10,304 stores—4,556 in the Philippines, and 6,859 abroad.
The group's brands include Jollibee, Chowking, Greenwich, Red Ribbon, Yong He King, Hong Zhuang Yuan, Mang Inasal, Burger King, Highlands Coffee, Smashburger, Tim Ho Wan, Tortazo, The Coffee Bean & Tea Leaf, Panda Express, Yoshinoya, Milksha, and Common Man Coffee Roasters.
The latest figures brought the group's nine-month net income up 1.6% to P9.017 billion from P8.876 billion, as system-wide sales rose by 18.4% to P332.811 billion, and revenues expanded by 14.3% to P224.222 billion.
Shares in JFC closed Friday at P182.00 apiece, down by P4.00 or 2.15% from Thursday's finish of P186.00. — VDV, GMA Integrated News