July 20, 2018, 4:31 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.0687 UAE Dirham
1 Philippine Peso = 2.01833 Albanian Lek
1 Philippine Peso = 0.03442 Neth Antilles Guilder
1 Philippine Peso = 0.51646 Argentine Peso
1 Philippine Peso = 0.02528 Australian Dollar
1 Philippine Peso = 0.0333 Aruba Florin
1 Philippine Peso = 0.03741 Barbados Dollar
1 Philippine Peso = 1.57108 Bangladesh Taka
1 Philippine Peso = 0.03151 Bulgarian Lev
1 Philippine Peso = 0.00707 Bahraini Dinar
1 Philippine Peso = 32.75309 Burundi Franc
1 Philippine Peso = 0.01871 Bermuda Dollar
1 Philippine Peso = 0.02527 Brunei Dollar
1 Philippine Peso = 0.12832 Bolivian Boliviano
1 Philippine Peso = 0.07203 Brazilian Real
1 Philippine Peso = 0.01871 Bahamian Dollar
1 Philippine Peso = 1.27899 Bhutan Ngultrum
1 Philippine Peso = 0.19255 Botswana Pula
1 Philippine Peso = 374.4856 Belarus Ruble
1 Philippine Peso = 0.03737 Belize Dollar
1 Philippine Peso = 0.02464 Canadian Dollar
1 Philippine Peso = 0.01868 Swiss Franc
1 Philippine Peso = 12.20576 Chilean Peso
1 Philippine Peso = 0.12563 Chinese Yuan
1 Philippine Peso = 53.5578 Colombian Peso
1 Philippine Peso = 10.55649 Costa Rica Colon
1 Philippine Peso = 0.01871 Cuban Peso
1 Philippine Peso = 1.77142 Cape Verde Escudo
1 Philippine Peso = 0.41506 Czech Koruna
1 Philippine Peso = 3.32024 Djibouti Franc
1 Philippine Peso = 0.11972 Danish Krone
1 Philippine Peso = 0.93303 Dominican Peso
1 Philippine Peso = 2.19981 Algerian Dinar
1 Philippine Peso = 0.25129 Estonian Kroon
1 Philippine Peso = 0.33389 Egyptian Pound
1 Philippine Peso = 0.51106 Ethiopian Birr
1 Philippine Peso = 0.01606 Euro
1 Philippine Peso = 0.03917 Fiji Dollar
1 Philippine Peso = 0.01429 Falkland Islands Pound
1 Philippine Peso = 0.01431 British Pound
1 Philippine Peso = 0.08962 Ghanaian Cedi
1 Philippine Peso = 0.88982 Gambian Dalasi
1 Philippine Peso = 168.66816 Guinea Franc
1 Philippine Peso = 0.14005 Guatemala Quetzal
1 Philippine Peso = 3.88103 Guyana Dollar
1 Philippine Peso = 0.1468 Hong Kong Dollar
1 Philippine Peso = 0.44747 Honduras Lempira
1 Philippine Peso = 0.1187 Croatian Kuna
1 Philippine Peso = 1.26057 Haiti Gourde
1 Philippine Peso = 5.20183 Hungarian Forint
1 Philippine Peso = 269.36027 Indonesian Rupiah
1 Philippine Peso = 0.06796 Israeli Shekel
1 Philippine Peso = 1.28159 Indian Rupee
1 Philippine Peso = 22.25963 Iraqi Dinar
1 Philippine Peso = 813.69248 Iran Rial
1 Philippine Peso = 1.99588 Iceland Krona
1 Philippine Peso = 2.43547 Jamaican Dollar
1 Philippine Peso = 0.01325 Jordanian Dinar
1 Philippine Peso = 2.11107 Japanese Yen
1 Philippine Peso = 1.8771 Kenyan Shilling
1 Philippine Peso = 1.27484 Kyrgyzstan Som
1 Philippine Peso = 75.70146 Cambodia Riel
1 Philippine Peso = 7.90311 Comoros Franc
1 Philippine Peso = 16.83502 North Korean Won
1 Philippine Peso = 21.15413 Korean Won
1 Philippine Peso = 0.00566 Kuwaiti Dinar
1 Philippine Peso = 0.01534 Cayman Islands Dollar
1 Philippine Peso = 6.4508 Kazakhstan Tenge
1 Philippine Peso = 157.22035 Lao Kip
1 Philippine Peso = 28.15189 Lebanese Pound
1 Philippine Peso = 2.98915 Sri Lanka Rupee
1 Philippine Peso = 3.00412 Liberian Dollar
1 Philippine Peso = 0.24822 Lesotho Loti
1 Philippine Peso = 0.05703 Lithuanian Lita
1 Philippine Peso = 0.01161 Latvian Lat
1 Philippine Peso = 0.02573 Libyan Dinar
1 Philippine Peso = 0.17723 Moroccan Dirham
1 Philippine Peso = 0.31076 Moldovan Leu
1 Philippine Peso = 0.98373 Macedonian Denar
1 Philippine Peso = 26.78638 Myanmar Kyat
1 Philippine Peso = 45.80995 Mongolian Tugrik
1 Philippine Peso = 0.15122 Macau Pataca
1 Philippine Peso = 6.64048 Mauritania Ougulya
1 Philippine Peso = 0.64347 Mauritius Rupee
1 Philippine Peso = 0.29125 Maldives Rufiyaa
1 Philippine Peso = 13.40105 Malawi Kwacha
1 Philippine Peso = 0.35353 Mexican Peso
1 Philippine Peso = 0.07589 Malaysian Ringgit
1 Philippine Peso = 0.24819 Namibian Dollar
1 Philippine Peso = 6.7153 Nigerian Naira
1 Philippine Peso = 0.58586 Nicaragua Cordoba
1 Philippine Peso = 0.15284 Norwegian Krone
1 Philippine Peso = 2.04293 Nepalese Rupee
1 Philippine Peso = 0.02753 New Zealand Dollar
1 Philippine Peso = 0.00719 Omani Rial
1 Philippine Peso = 0.01871 Panama Balboa
1 Philippine Peso = 0.06114 Peruvian Nuevo Sol
1 Philippine Peso = 0.06073 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.39618 Pakistani Rupee
1 Philippine Peso = 0.0692 Polish Zloty
1 Philippine Peso = 106.97905 Paraguayan Guarani
1 Philippine Peso = 0.06809 Qatar Rial
1 Philippine Peso = 0.07472 Romanian New Leu
1 Philippine Peso = 1.18 Russian Rouble
1 Philippine Peso = 15.95267 Rwanda Franc
1 Philippine Peso = 0.07015 Saudi Arabian Riyal
1 Philippine Peso = 0.14747 Solomon Islands Dollar
1 Philippine Peso = 0.25122 Seychelles Rupee
1 Philippine Peso = 0.33483 Sudanese Pound
1 Philippine Peso = 0.16573 Swedish Krona
1 Philippine Peso = 0.02554 Singapore Dollar
1 Philippine Peso = 0.0143 St Helena Pound
1 Philippine Peso = 0.41538 Slovak Koruna
1 Philippine Peso = 153.38571 Sierra Leone Leone
1 Philippine Peso = 10.68088 Somali Shilling
1 Philippine Peso = 393.68313 Sao Tome Dobra
1 Philippine Peso = 0.16367 El Salvador Colon
1 Philippine Peso = 9.633 Syrian Pound
1 Philippine Peso = 0.24845 Swaziland Lilageni
1 Philippine Peso = 0.62252 Thai Baht
1 Philippine Peso = 0.04952 Tunisian Dinar
1 Philippine Peso = 0.04351 Tongan paʻanga
1 Philippine Peso = 0.08966 Turkish Lira
1 Philippine Peso = 0.12587 Trinidad Tobago Dollar
1 Philippine Peso = 0.57159 Taiwan Dollar
1 Philippine Peso = 42.49906 Tanzanian Shilling
1 Philippine Peso = 0.49158 Ukraine Hryvnia
1 Philippine Peso = 69.56977 Ugandan Shilling
1 Philippine Peso = 0.01871 United States Dollar
1 Philippine Peso = 0.58277 Uruguayan New Peso
1 Philippine Peso = 145.09914 Uzbekistan Sum
1 Philippine Peso = 2239.05724 Venezuelan Bolivar
1 Philippine Peso = 431.12608 Vietnam Dong
1 Philippine Peso = 2.04265 Vanuatu Vatu
1 Philippine Peso = 0.04883 Samoa Tala
1 Philippine Peso = 10.52881 CFA Franc (BEAC)
1 Philippine Peso = 0.05051 East Caribbean Dollar
1 Philippine Peso = 10.52881 CFA Franc (BCEAO)
1 Philippine Peso = 1.90591 Pacific Franc
1 Philippine Peso = 4.67265 Yemen Riyal
1 Philippine Peso = 0.24818 South African Rand
1 Philippine Peso = 97.07258 Zambian Kwacha
1 Philippine Peso = 6.76955 Zimbabwe dollar

PH firm hikes stake in US burger chain

Jollibee Foods Corp., said it has acquired an additional 45 percent in Smashburger. 

This will increase BGI’s ownership in the US burger chain to 85 percent. 

Jollibee said unit Bee Good! Inc. (BGI) purchased the additional shares of SJBF LLC, the parent company of the entities comprising the Smashburger business, from Smashburger Master LLC (Master).

 Master will retain the remaining 15 percent ownership. 

“The transaction, valued at $100 million is expected to be completed in one to two months, subject to government approvals in the United States and meeting certain closing conditions.  Jollibee will pay Master through BGI in cash,” the company said.

“With this acquisition of more shares,  Jollibee will have a more significant business in the United States. The US will increase its contribution to our worldwide system-wide sales from 5 percent to 15 percent. We will be able to participate in the very large mainstream American consumer market in addition to serving Filipino-Americans there,” said Tony Tan Caktiong, Jollibee chairman. 

“We believe that we will be able to profitably provide the mainstream American consumer with superior tasting products with excellent services at very good value for money as we have demonstrated in the Philippines, China, Vietnam, Singapore, Hong Kong, Brunei and the Middle East. The proportion of our foreign business to worldwide system wide sales will increase from present 20 percent to 30 percent. We will eventually achieve our goal of 50/50 revenue split between the Philippines and foreign businesses even as our Philippine business continues to expand strongly since our foreign business is growing even faster. It will only be a matter of time,” he added.

 The integration  of Smashburger into  Jollibee will increase worldwide store network by 365 stores or 9.6 percent to 4,162. 

This will also expand  Jollibee’s geographical presence from 16 countries to 21 adding Costa Rica, Egypt, El Salvador, United Kingdom (England and Scotland), and Panama.
 
“The consolidation of  Smashburger  into   Jollibee  will  increase   Jollibee’s  store network  in  the  US  by  five5-fold,  from  83  to  417 and will expand its presence to 39 states in the US from current 10 states. It will also increase  Jollibee’s  store  network  in  Canada, from two to 8,” said Emesto Tanmantiong, Jollibee chief executive officer.

Thomas Ryan,  one of the founders of the Smashburger brand and who has been its chief executive officer (CEO) for the past 15 months will continue to be its CEO.

,“ We will introduce at  Smashburger the  Jollibee Business Systems that have proven to work successfully in its brands in several countries,” Tanmantiong added.

 The financial data of the company in the past six months showed that Smashburger has an annualized system-wide sales of $333 million and net revenues of $200 million, and reports a positive and improving earnings before interest, taxes, depreciation and amortization.

Tanmantiong said one of  Jollibee’s priorities will be to change Smashburger’s debt structure, to significantly reduce its financing cost and enable the business to make more investments for long term growth. 

“It will focus on significantly growing sales per store and increasing profit which JFC has been able to achieve in practically all its acquired businesses in the Philippines and abroad,” he said.

 Smashburger with headquarters in Denver, Colorado is a leading fast casual restaurant. In addition to premium beef and turkey burgers, Smashburger offers grilled or crispy chicken sandwiches, black bean burgers, fresh salads, signature side items and hand-spun Haagen-Dazs shakes. 

The chain is recognized in various surveys and publications as one of the best tasting burgers in the US.
 
Meanwhile, broker Unicapital Securities Inc., said the increasing inflation in the Philippines could put a dent in Jollibee Foods Corp.’s sales growth. 

The broker said the hike in prices, recorded at an inflation rate of 4 percent in January, will raise cost of goods faster that the domestic sales. 

“As Philippine inflation rose to new levels last year (2017 inflation averaged at 3.2 percent vs. 2016’s 1.8 percent and 2015’s 1.4 percent), we think that 2018 will be an adjustment period for consumers once Jollibee raises its selling prices accordingly,” it said. 

“Jollibee’s revenues tend to slow down when inflation surges and to accelerate when inflation cools down or when it stabilizes,” it added.

In Jollibee’s third quarter result report last year, the company reported that domestic sales account for 78 percent of its P42.3 billion system-wide sales. 

Jollibee reported that revenue for the period reached P32.7 billion, up 17.5 percent, out of the system-wide sales that grew 16.5 percent P33.1 billion.

Unicapital noted that Jollibee’s current price is already above its five-year historical average and is currently trading at a 2018E P/E of 38.7x, “higher than its five-year average of 35.5x.”

“If it trades at 1 standard deviation above its average, the stock price could overshoot to P301.00/share. If it trades at 2 standard deviation above, it could overshoot to P339.00/share,” it said. 

“We think that the stock price already caught up with the company’s intrinsic value. Any upside at current levels will be driven by sentiment and anticipation of SuperFoods’ IPO,” it added.

Jollibee closed Tuesday’s trading down P6 to P277.
Category: 
Rating: 
No votes yet

Column of the Day

Tomodachi Tangle

Bernard Karganilla's picture
By BERNARD KARGANILLA | July 19,2018
‘Jose Rizal’s life is serialized as a Japanese manga (comics).’

Opinion of the Day

The Departure Lounge

Philip S. Chua's picture
By PHILIP S. CHUA | July 19, 2018
‘Growing old is a great privilege denied many. Let us relish every second we have left.’