Jollibee Foods Corporation
Jollibee hikes spending budget for 2017
By Richmond Mercurio (The Philippine Star) | Updated February 15, 2017 - 12:00am

MANILA, Philippines - Local fastfood giant Jollibee Foods Corp. (JFC) is jacking up its capital spending this year after chalking up a 25 percent increase in net income last year.

JFC chief executive officer Ernesto Tanmantiong said the company is earmarking P14 billion in capital expenditures this 2017, 35 percent higher than last year’s allocation of P10.4 billion.

Tanmantiong said the budget would be used mainly for new store expansion and renovation, as well as commissary investments.

In 2016, the company recorded a 24.6 percent year-on-year increase in attributable net income to P6.14 billion behind robust system wide sales.

JFC said system-wide sales from company-owned and franchised stores last year grew 14.1 percent to P149.14 billion.

The sales increase, it said, was driven by a global store network expansion and same- store sales growth of seven percent, respectively.

Also for 2016, JFC opened 340 stores, the highest number of store opening in a single year in the company’s history.

“In 2016, we opened the most number of new stores in JFC’s history. This was made possible by improving the return on investments on our stores and by increasing our organization’s capability to build and open more stores, in better locations and with better quality than ever before—on a worldwide basis,” Tanmantiong said.

“We look forward to continued strong profitable growth in the years ahead in the Philippines and abroad,” he added.
eto pagkakataon para bumili ng stock kay JFC...long investor here Smile
pano po b malalaman kung kelan ihohold at kelan pwede pang bumili ng stocks kay JFC newbie lang po ako
out na muna ako dito sandali..Big GrinBig GrinBig Grin
...small news but a great one Tongue libre eh

Jollibee-Globe deal allows free calls for delivery

Globe subscribers can now call Jollibee's delivery hotline #87000 for free through their mobile phones. The service will also come to Burger King, Greenwich, Mang Inasal, and Chowking.

MANILA, Philippines – Globe Telecom and Jollibee Foods Corporation (JFC) teamed up to expand the fast food giant's IT and delivery services.

The agreement, announced on Monday, October 2, means that Globe customers will now be able to call Jollibee's delivery hotline #87000 for free through their mobile phones.

JFC also said the partnership ensures easier access and greater reach for areas that have a growing demand for delivery services.

"With this new partnership with Globe Business, we will be able to bring the convenience of one nationwide delivery hotline to more customers. Globe Business is an excellent partner for us since they have a high level of expertise in ICT," said JFC vice president for national business channels Manjie Yap in a statement.

"Nowadays more and more technological innovations are coming out, and of course we are looking forward to maximize this so our customers can benefit more. The 'Hashtag' project is just a start of the many innovations we foresee to improve our service," Yap added.

Beyond the initial partnership with Jollibee, Globe Business also partnered with the other fast food chains that belong to the JFC group of companies.

Globe said it will provide the same service to Burger King's #22222, Greenwich's #55555, Mang Inasal's #71111, and Chowking's #98888.

JFC is currently in the midst of an expansion spree, targeting to open 250 new stores by the end of this year.

Pls don't follow me....I'm lost too! hehe
...Jollibee owner nito along with Red Ribbon, ChowKing

Greenwich expects sales to grow by 20% this year

GREENWICH PIZZA is hoping new menu items such as chicken wings and bacon pizza, as well as a fresh new look for its stores, will drive sales 20% higher this year.

“We’re targeting to be able to grow by 20%. The compounded annual growth would be around 15-20%, but this year we’re a bit more aggressive… We’re very much on track to achieving that. Since the renovation and this new concept rolled out, we’re crediting that, with these new products to our year-on-year double digit growth,” Greenwich President Albert C. Cuadrante told reporters at its newly refurbished store along Visayas Avenue, Quezon City.

Among the new products introduced to Greenwich’s menu are Spicy Chicken Wings, Potato Wedges, and Bacon Overload pizza.

Mr. Cuadrante said Greenwich’s sales stood at “over P8 billion” last year, 15% up from 2015.

The pizza chain under Jollibee Foods Corp. is focusing on its target market, consumers aged between 25 and 35.

“We want to stay true to Greenwich’s personality of being youthful, fun, hip and trendy — making the interiors and aesthetic appeal of the Greenwich Pizzeria reflective of the brand’s DNA,” Mavel Villanueva, Greenwich retail marketing manager, said during the briefing.

As part of its strategy, Greenwich began renovating its stores with mid-century and industrial designs.

Greenwich currently has 262 branches around the country, of which 60% are company-owned and the rest are franchised. The company expects its branch network to reach “a little more than 300” by the end of 2017.

Mr. Cuadrante said Greenwich usually sees 30 new stores opened annually, but this year is expected to be an exception.

“Our expansion continues to be very aggressive and more and more we are realizing that there are still many cities [to penetrate],” the Greenwich executive said.

On plans to bring Greenwich overseas, Mr. Cuadrante said the company said will focus first on boosting its presence in the domestic market.

He said Greenwich will consider expanding in areas where parent Jollibee already has a strong presence such as the Middle East, Vietnam, Hong Kong and United States, but also assessing the area’s acceptance for pizza.

Greenwich, which claims to be the biggest pizza chain in the country in terms of store network, said it has a 30% share of the pizza market in Metro Manila, where most of its stores are located.

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...McDo vs. JFC....fight! Tongue

Fried chicken king Jollibee chases McDonald’s with US, China hunt

MANILA/SINGAPORE — Jollibee Foods Corp., the fast food chain that controls more than half of the Philippines’ $4-billion market with its signature fried chicken, is looking for acquisitions to accelerate ambitious expansion plans in the US and China.

The targets could be other fast food chains as well as fast-casual restaurants like Smashburger, the US franchise in which Jollibee owns 40%, President Ernesto Tanmantiong said in an interview.

“We are looking at the world arena,” he said. “The acquisition of new businesses is part of our growth strategy and, over the last few years, we have been entertaining opportunities.”

Pasig City-based Jollibee is on track to meet its goal of doubling profit in the five years through 2019, and Mr. Tanmantiong now wants it to be one of the five biggest restaurant chains by market capitalization globally. Its current market value is $5.2 billion.

The stock rose 1% in Manila trading Friday for its highest close in two weeks. The company’s shares have risen 27% this year, outperforming the Philippine Stock Exchange Index.

Jollibee, which had about P14 billion ($272 million) in cash and equivalents as of June 30, operates more than 3,500 stores globally, according to its second-quarter earnings statement. Its best-selling item is called Chickenjoy.

Three-quarters of those outlets are in the Philippines, where the company is capitalizing on an economy that’s grown by at least 6% for nine straight quarters. The World Bank projects that streak to continue through 2019 as consumer spending increases and the population grows at a faster rate than the global average.

“Jollibee is well-positioned for growth given its diversified portfolio,” said Noel Reyes, who helps manage $1 billion as chief investment officer at Security Bank Corp. “Its Philippine operations will gain from increased consumer purchasing power while its overseas expansion has huge opportunities. It’s not just a chicken-and-burger stock anymore.”

Retailers, restaurant operators among biggest gainers from President Rodrigo R. Duterte’s plan to cut personal income tax.

Jollibee generated 21% of its P113.9 billion in revenue overseas last year, according to data compiled by Bloomberg. When Smashburger is included, that segment increases to 30%, according to the company.

“We are optimistic with the future of the Philippine market,” said Mr. Tanmantiong, 59. “Major pillars will still be the Philippines, China and US, although we don’t close our door to opportunities in other geographic areas.”

Its expansion plans focus on overseas locations with a concentration of Filipinos, such as Florida, California, Hawaii and Guam in the US. The chain opened its first Florida store in Jacksonville in March, making it the 36th outlet in the US.

In 2015, Jollibee spent $100 million for its stake in Smashburger, which had 362 stores in the US as of June 30. The Philippines company has completed 12 deals valued at about $301 million since 2010, according to data compiled by Bloomberg.

The company has considered about 20 potential acquisitions during the last two years. Local and international media have reported that Jollibee is considering a bid for Pret A Manger Ltd. that values the UK-based sandwich maker at more than $1 billion.

When asked about those reports during the Oct. 11 interview, Mr. Tanmantiong would only say the company hasn’t made any bids in recent months.

“We are prioritizing the markets with bigger Filipino communities,” said Mr. Tanmantiong, who became president and chief executive officer in 2014. His older brother, Tony Tan Caktiong, founded the chain as an ice cream parlor in Quezon City in 1975.

Jollibee’s Chinese operations include Jollibee and Hard Rock Cafe outlets in Hong Kong and brands on the mainland that include Dunkin’ Donuts, noodle chain Yonghe King and congee outlet Hong Zhuang Yuan.

“China is now one of the highest growth areas in our business,” he said.

The company wants half of its sales to come from overseas in five to seven years, with China and the US being key markets, Mr. Tanmantiong said. Yet those plans may be complicated by territorial disputes with China over islands in the South China Sea.

In Europe, the chain is targeting Filipino communities in the UK, Italy and Spain. Jollibee will open its first stores in Milan and London next year, with plans to push into Japan and Australia by 2020.

The company also wants to take its Philippine chicken barbecue chain, called Mang Inasal, and its Chinese restaurants global.

“Our assumption is: the growth we’ve had in the last six years, we can double,” Mr. Tanmantiong said. “The opportunities are out there.”

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...nag-cut ng investment si JFC Tongue

Jollibee shuts China hot pot chain

JOLLIBEE FOODS Corp. is closing its 12 Hotpot restaurant chain in China, as it shifts its focus on building larger brands in the country.

In a disclosure to the stock exchange on Thursday, the country’s largest quick service restaurant operator said it will discontinue operations of 16 stores under the 12 Hotpot brand.

The restaurants, located in Shanghai, are owned and operated by its 48%-owned subsidiary 12 Hotpot (Shanghai) Food and Beverage Management Co. Ltd.

The company noted the 12 Hotpot stores have not been consolidated into its financial statements and store count since it does not hold majority ownership.

Following the closure of the stores, JFC will dissolve and liquidate 12 Hotpot Shanghai, the operating company, as well as its joint venture vehicle, WJ Investments Ltd.

WJ Investments Ltd. was established in 2012, after JFC’s wholly owned units Jollibee Worldwide Pte. Ltd. and Golden Plate Pte. Ltd. entered into an agreement with Wowprime Corp. of Taiwan’s subsidiary Hoppitime Ltd., along with some of Wowprime’s key executives, for the main purpose of owning and operating the 12 Hotpot brand in the People’s Republic of China, Hong Kong, and Macau.

The store closure is part of the Jollibee’s strategy of concentrating on growing its bigger brands in China.

“JFC will focus on building its larger and fast-growing businesses in China and other parts of the world,” the company said.

JFC reported its systemwide sales in China grew by 17.2% in the second quarter of 2017, showing the slowest growth among its international businesses. JFC’s Southeast Asian business, for instance, grew by 42% in the quarter, while North America followed at 32.5%.

Yonghe King remains JFC’s biggest business in China, ending the third quarter with 305 stores. JFC also operates Hong Zhuang Yuan with 44 stores and Dunkin’ Donuts with 18 stores. This brought the company’s total store network to 367 as of end-September.

On Dec. 30, 2016, JFC sold its 55% stake in China restaurant chain to its joint venture partner, Guanxi San Pin Wang Food and Management Company Limited.

San Ping Wang had a total of 72 stores when JFC sold its stake, as it looked to focus on the growth of Yonghe King, its largest business in China.

On Nov. 23, 2016, JFC bought out its joint venture partner in Happy Bee Foods Processing plant in Anhui Province, China. With the change in ownership, the company said Happy Bee will only produce and sell food products to JFC’s restaurant businesses.

JFC ended the first nine months of 2017 with 2,756 restaurant outlets in the Philippines, with 1,023 under the Jollibee brand, 510 under Chowking, 262 under Greenwich, 411 under Red Ribbon, 471 under Mang Inasal, and 79 under Burger King.

The company has a total of 888 stores overseas, excluding the 355 outlets under the Smashburger brand where JFC has a 40% interest.

This brings the Tony Tan Caktiong-led firm’s store count to 3,644 – 356 stores short of its 4,000-store target for 2017.

JFC’s net income attributable to the parent jumped an annual 14% to P3.489 billion in the first half of 2017, following a 13.5% growth in systemwide retail sales to P81.078 billion fueled by the company’s aggressive worldwide store expansion.

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...para sa Mang Inasal Tongue

JFC opens PHL’s biggest poultry processing plant

JOLLIBEE Foods Corp. (JFC) unveiled on Tuesday its poultry processing plant in Sto. Tomas, Batangas in partnership with US agribusiness firm Cargill.

In a disclosure to the stock exchange, JFC said the facility to be operated by its joint venture vehicle company called Cargill Joy Poultry Meats Production, Inc. (C-Joy) will be the country’s largest poultry processing plant with a capacity of 45 million chickens every year.

“We partnered with Cargill to deliver high quality chicken products through Cargill’s technology and quality standards. The facility will provide JFC with dressed and marinated chicken to augment the chicken supply requirements of the growing needs of the JFC brand,” JFC Chief Executive Officer Ernesto Tanmantiong was quoted as saying in a statement.

JFC has a 30% stake in C-Joy, while Cargill owns the 70%. Last year, JFC said it is investing P244.9 million for its stake in the partnership, while Cargill will pour in P571.5 million.

Cargill is a United States-based agricultural firm providing food, agriculture, financial, and industrial products and services. It is present in 70 countries with an employment count of over 155,000.

“Cargill and Jollibee came together to start this plant because of our common commitment to the highest standards in product quality and food safety. This is reflected in the new plant which harnesses technology and global experience to deliver tasty products in an environment which is safe for our employees and is environmentally sustainable,” C-Joy President and Chief Executive Officer Paul Fullbright said in a statement.

C-Joy will be tapping local poultry farmers in Batangas and neighboring provinces to supply the chicken requirements of the facility, which could potentially create around 1,000 jobs for the community.

“We are looking forward to producing the chickens that will be supplied to the C-Joy plant to meet the poultry meat requirements of Jollibee. One thing I was impressed about is the biosecurity requirements to control the food safety at every stage of production,” JFC quoted Highcrest President Vic Lao as saying in a statement.

The facility will partially support the local requirements of several brands under JFC. The company ended September 2017 with a total of 2,756 restaurant outlets in the Philippines, of which 1,023  are under the Jollibee brand, 510 under Chowking, 262 under Greenwich, 411 under Red Ribbon, 471 under Mang Inasal, and 79 under Burger King.

JFC delivered a 16.3% increase in its attributable profit to P5.11 billion in the first nine months of 2017, following a 15% growth in revenues to P94.51 billion boosted by strong sales in both its local and overseas store network.

Abroad, JFC has a total of 888 stores, excluding 355 outlets under the Smashburger brand where JFC has a 40% interest.

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Jollibee continues branch expansion in Hong Kong, Brunei, UAE

HOMEGROWN fastfood giant Jollibee Foods Corp. (JFC) continues to expand in Asia and the Middle East, adding three new stores as it moves forward with its plan to increase revenue contributions from international operations.

JFC on Thursday said it recently opened three new stores located in Brunei International Airport, Hong Kong, and the United Arab Emirates (UAE).

The Brunei branch is the company’s 15th in the country, opened in time for JFC’s 30th year anniversary there.

“When we started our first Jollibee Brunei branch back in 1987, we wanted to appeal not only to Filipinos, but to locals as well. Thirty years on, we are very happy to see the growth of Jollibee into a brand which is well-loved by the Bruneian community,” said JFC Chief Executive Officer Ernesto Tanmantiong was quoted as saying in a statement.

Jollibee also opened an outlet in Wan Chai district,located on the northern shore of Hong Kong Island. The company noted the area has a population of around 180,000, of which 15,000 are Filipinos.

“The (Wan Chai) store posted impressive sales on its first three days of operation, showing a good balance of Filipino and local customers,” Mr. Tanmantiong said.

The listed fastfood giant opened the doors of its ninth store in UAE, which is JFC’s largest store in the country to date.

The new store openings are in line with JFC’s goal to become the fifth largest restaurant company in the world. Currently, the company ranks as the 11th largest global restaurant operator aside from being the biggest in Asia.

JFC targets to end the year with a total of 4,000 stores across the globe. As of September, it had a total of 3,644. Of this, 2,756 are in the Philippines composed of 1,023 under the Jollibee brand, 510 under Chowking, 262 under Greenwich, 411 under Red Ribbon, 471 under Mang Inasal, and 79 under Burger King.

Oveseas, JFC has a footprint of 888 stores. It has an additional 355 outlets under the Smashburger brand, where JFC holds a 40% interest.

This international store expansion will potentially drive foreign sales to 50% of the company’s total sales. As of 2016, international sales accounted for only 20% of JFC’s business.

In the first nine months of 2017, the company saw its net income attributable to the parent increase by 16.3% to P5.11 billion, following a 15% jump in revenues to P94.51 billion.

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