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THE JFC GROUP OF COMPANIES
Jollibee Sales Up 9% in Quarter 3, Operating Profit Grows by 15%
Metro Manila, Philippines, November 11, 2009 - Jollibee Foods Corporation (PSE: JFC) - Results for the quarter ended September 30, 2009
Following are the financial highlights of JFC's results of operations for the quarter ended September 30, 2009:
| Financial Summary | YTD September 2009 | Quarter 3 2009 | ||||
| 2009 | 2008% | Change | 2009 | 2008% | Change | |
| System Wide Retail Sales | 46,287 | 41,608 | 11.2% | 15,332 | 14,062 | 9.0% |
| Revenues | 35,165 | 31,665 | 11.1% | 11,794 | 10,828 | 8.9% |
| Net Operating Income | 2,535 | 2,221 | 14.1% | 773 | 671 | 15.2% |
| Net Income | 1,847 | 1,638 | 12.8% | 539 | 513 | 5.2% |
| Net Income Attributable to Equity of the Parent | 1,845 | 1,638 | 12.6% | 537 | 513 | 4.7% |
| Earnings per Common Share - Basic | 1.791 | 1.602 | 11.8% | 0.519 | 0.501 | 3.5% |
| Earnings per Common Share - Diluted | 1.784 | 1.594 | 11.9% | 0.518 | 0.501 | 3.6% |
*Amounts in PhP Millions, except % change and Per Share Data
Jollibee Foods Corporation, the country's largest food service company generated Php 15.3 billion of system-wide sales in the 3rd quarter of 2009, representing a 9.0% growth versus the amount made in the same period last year. Operating profit rose by 15.2% on profit margin improvement while net income increased by a slower rate of 5.2% due mainly to financing charges related to the acquisition of Hong Zhuang Yuan restaurant chain in China in October, 2008.
Jollibee Foods Corporation (PSE: JFC) (widely known as Jollibee) is a fast-food restaurant chain based in the Philippines. As of December 2007, Jollibee has become one of the biggest fast-food chains in the world with 1,655 stores worldwide (although its own web site claims only 600)[1] and total sales of more than US$1 billion. [2] As of March, 2008, JFC has 1,466 stores in the Philippines namely, Jollibee (627), Chowking (377), Greenwich Pizza (236), Red Ribbon Bakeshop (194), Délifrance (28) and Manong Pepe's (4). According to its own web site, it has 23 stores overseas. [3] As of end-September, 2008, JFC has 1,490 local and 228 foreign stores in its portfolio.[4]
Expansion and acquisitions
The company acquired 80% of Greenwich Pizza in 1994, enabling it to penetrate the pizza-pasta segment. From a 50-branch operation, Greenwich has established a strong presence in the food service industry. In early 2006, Jollibee Foods Corp. bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for P384 million in cash.[6]
In 2000, the company acquired Chowking, allowing Jollibee to be part of the Asian quick service restaurant segment.[7][8] In 2007, Jollibee acquired the Chinese fast-food chain Hongzhuangyuan.[9]
Jollibee purchased 70% of Taipei restaurant Lao Dong in June and Chun Shui Tang tea house in 2006. In 2004, Jollibee acquired Chinese fast food chain Yonghe Dawang for $22.5 million. Jollibee entered into a joint-venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro in New Mexico, in which Jollibee will have a 12% stake for $950,000.[10][11][12]
On August 26, 2008, Jollibee formally signed a P2.5 billion ($55.5 million) deal with Beijing-based Hong Zhuang Yuan through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. The sale is subject to the approval of China's Ministry of Commerce.
Company Headquarters
9th Floor Jollibee Plaza
F. Ortigas Jr. Road (formerly Emerald Avenue)
Pasig City, Philippines
Telephone: (632) 898-8181
Website: www.jollibee.com.ph
Common Stock
Jollibee's common stock is listed and traded on the Philippine Stock Exchange under the symbol "JFC". It is one of the companies which comprise the PSE Composite Index.
Shareholder Inquiries
Inquiries regarding dividend payments, account status, address changes, stock certificates and other pertinent matters may be addressed to the Company's registrar and transfer agent:
Rizal Commercial Banking Corporation
Stock Transfer Office
RCBC Building
333 Gil Puyat Avenue
Makati City
