JOLLIBEE Foods Corp. closed the first nine months of the year with a profit of P8.88 billion, up 22.9 percent from P7.22 billion last year.
Revenues grew 10.6 percent to P196.25 billion compared to last year’s P177.41 billion.
System-wide sales (SWS) hit P281.11 billion, a 12 percent increase from P251.09 billion.
“During the third quarter, we successfully completed the acquisition of Compose Coffee and the results that we are reporting today include the impact of this value-accretive transaction,” said Ernesto Tanmantiong, Jollibe Group chief executive officer.
For the third quarter, profit grew 18 percent to P3 billion compared to P2.53 billion last year. Revenues grew 10.1 percent to P67.73 billion compared to P61.53 billion.
SWS hit P98.48 billion, up 13.2 percent from P86.96 billion.
Jollibee said the growth was driven by the international business which grew by 20.5 percent.
“Compose Coffee contributed 11.5 percent to the growth of the international business’ SWS and added 2,580 stores to the global store network as at end of the quarter,” it said.
