Jollibee Group Q2 net income up 5.6% to P3.21 billion
The Jollibee Group said its attributable net income climbed 5.6% to P3.211 billion from P3.041 billion last year, while its net income grew 7.2% to P3.416 billion from P3.187 billion.
Systemwide sales (SWS) gained 19.6% to P114.542 billion, with international SWS up 32.6% on the back of the 68.8% growth in the coffee and tea segment, largely driven by Compose Coffee.
Revenues for the quarter were up 15.5% to P77.626 billion, while operating income rose 19.1% to P6.037 billion.
'Our strong operating results this quarter reflect not only the positive impact of our strategic acquisition but also the underlying resilience of our business,' Jollibee Group chief financial and risk officer Richard Shin said in an emailed statement.
'Disciplined execution of both our cost optimization initiatives and portfolio innovation efforts helped stimulate growth and profitability. The expansion in operating margin and earnings underscores the effectiveness of our strategy,' he added.
The first-half attributable net income fell 0.7% to P5.617 billion from P5.658 billion, while net income increased by 0.4% to P5.914 billion from P5.891 billion.
Jollibee Group ended June with 10,119 stores, up 45.5% from the previous year—3,424 in the Philippines and 6,695 international stores, including 547 in China, 357 in North America, and 400 in Europe, the Middle East, and Africa (EMEA).
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.
Shares in the company were last trading at P222.00 apiece, up P5.00 or 2.33% from Wednesday's finish of P215.00. —VBL, GMA Integrated News
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Jollibee Group Q2 net income up 5.6% to P3.21 billion
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