Jollibee Foods Corp. said profit in the first quarter of the year grew 26.9 percent to P2.62 billion from P2.06 billion.
Revenue grew 11.3 percent to P61.3 billion from P55.09 billion, over a system-wide sales (SWS) of P86.8 billion, up 10.4 percent from P78.6 billion.
Same store sales growth (SSSG) was at 5.5 percent, while SSSG in the Philippine business increased 6.9 percent while the international business grew 3.2 percent led by Europe, Middle East, Asia and Australia (up 14.7 percent) and by brands Milksha (up 8.7 percent), Jollibee North America (up 12.3 percent), and Coffee Bean and Tea Leaf CBTL ( up 2 percent).
Operating profit grew 13.7 percent to P4.1 billion.
Richard Shin, Jollibee Group chief financial officer, said the company is “kicking off the year in a position of strength with the first quarter off to a good start.”
Shin said the group is slightly ahead of its guided growth rates.
