Jollibee profit hits P7.77B, 2019 capex set at P17.2Bhome/News/Regions/Jollibee profit hits P7.77B, 2019 capex set at P17.2BJOLLIBEE Foods Corp. saw its net income jump by 16.5 percent to P7.77 billion in 2018 from P6.67 billion the year before on the back of its strong systemwide retail sales. For its Philippine operations alone, Jollibee said sales increased by 15.1 percent last year on the back of the 8.2-percent contribution from new stores and 6.9-percent same-store sales growth. Sales growth from new store openings is excluded. “The Philippine business performed strongly in 2018 despite rising inflation rate and slowing GDP growth,” Jollibee Chief Executive Officer Ernesto Tanmantiong was quoted as saying in the statement. 2019 capex doubledThanks to its strong performance last year, Jollibee said it was allocating P17.2 billion as capital expenditures (capex) this year, almost doubling the P9.6 billion it spent in 2018.

Source: Manila Times February 14, 2019 16:40 UTC