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 restaurant company. The Company operates a portfolio which includes 19 brands with approximately 10,000 stores and cafes across 33 countries. It's primarily involved in the development, operations and franchising of Quick Service Restaurants (QSR) under the Jollibee trade name in the Philippines. It operates through three segments, which include food service, franchising and support services. The food service segment is involved in the operations of QSRs and the manufacture of food products to be sold to Jollibee Group-owned and franchised QSR outlets. The franchising segment is involved in the franchising of the Jollibee Group’s QSR store concepts. The support services segment is involved in providing various services to the Jollibee Group’s independent franchisees, like but not limited to repairs and maintenance of store equipment, staffing, helpdesk services and other business activities in support of the QSR systems.
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