Mang Inasal, Burger King lift Jollibee net profit last year

In a disclosure to the Philippine Stock Exchange, JFC said that its net profit in the fourth quarter went up by 10.5 percent to P1.16 billion from P1.05 billion in the same period in 2010. “This improvement offset the negative profit growth rate in the first half of the year and brought 2011 profit at par with the previous year,” Jollibee said.

JFC’S system wide sales, a measure

OLLIBEE Foods Corp. (JFC) on Thursday said that its net income inched up by 0.5 percent to P3.21 billion last year from P3.19 billion in 2010.

of sales from company-owned and franchised stores grew by 17 percent to P82.17 billion last year from P70.25 billion in 2010.

In the fourth quarter, system wide sales increased by 18 percent to P22.97 billion from P19.46 billion.

Domestic sales grew by 17.8 percent in the October to December period, led by the 9.2 percent sales growth of new acquisitions Mang Inasal and Burger King. International sales increased by 19 percent led by China with a growth of 27.5 percent and Southeast Asia and the Middle East with 23.3 percent.

“Sales per store across all brands grew strongly versus year ago driven by higher transaction count, a measure of volume of customer purchases,” the company said.

JFC invested a total P6 billion in 2011, including P4 billion in fixed assets such as new stores and supply chain facilities and P2 billion for acquisitions.

The Jollibee group opened 260 new stores last year, 167 of which were in the Philippines led by Mang Inasal and Jollibee with 86 and 40, respectively. This brought JFC’S total network in the Philippines to over 2,000 restaurants.

Overseas, JFC opened 93 new stores led by Yonghe King in China with 70 and Jollibee Vietnam with 11. The JFC Group of Companies operates the country’s largest fast food network with a total of 2,001 stores at end December: Jollibee brand with 745, Chowking with 391, Greenwich with 205, Red Ribbon with 208, Mang Inasal with 429 and Burger King 23.

It is also operating 468 stores abroad under the Yonghe King and Hong Zhuang Yuan besides its local brands for a total of 2,469 stores worldwide.