Jollibee Foods Corp. Reports Consolidated Earnings Results for the First Quarter of 2012; Provides Capital Expenditures Guidance for the Year 2012
May 14, 2012
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Jollibee Foods Corp. reported consolidated earnings results for the first quarter of 2012. For the quarter, the company reported revenues of PHP 16,486 million against PHP 13,970 million a year ago. Net operating income was PHP 885 million against PHP 856 million a year ago. Net Income attributable to equity holders of the parent company was PHP 672 million against PHP 622 million a year ago. Earnings per diluted share were PHP 0.645 against PHP 0.603 a year ago. System wide retail sales were PHP 21,554 million against PHP 18,743 million a year ago. Net income reflected the financial results of SuperFoods, a joint venture based in Vietnam of which the company owns 50%, with Highlands Coffee and Pho 24 Vietnamese noodles as primary businesses. Using the equity method of accounting, the 23.1-million equity in net losses of SuperFoods decreased the company's consolidated net income by 3.7% points.
The company plans to invest PHP 5.8 billion in capital expenditures in 2012, 56.7% higher than the amount spent in 2011 most of which will be used to open 300 stores and renovate 180 stores worldwide.
Jollibee Foods Corporation is a Philippines-based company, which is involved primarily in the development, operation and franchising of quick service restaurants (QSRs) under the trade names Jollibee, Chowking, Greenwich, Red Ribbon, Yong He King, Hong Zhuang Yuan, Mang Inasal, Burger King, Highlands Coffee, PHO24, Smashburger, Tim Ho Wan, Tortazo, The Coffee Bean & Tea Leaf, Panda Express, Yoshinoya, and Milksha. Its segments include food service, franchising and leasing. The food service segment is involved in the operations of QSRs and the manufacture of food products to be sold to Company-owned and franchised QSR outlets. The franchising segment is involved in the franchising of the Company's QSR store concepts. The leasing segment leases store sites mainly to its independent franchisees. The Company has approximately 1,204 Jollibee stores nationwide, of which 768 were franchised and 436 were Company owned. In addition, outside the Philippines, it has approximately 378 stores.
JOLLIBEE FOODS CORPORATION 
