Jollibee is optimistic about sustained growth

As the Jollibee Group posted strong earnings in the first quarter, it expects to maintain its growth momentum this year.

In January to March, Jollibee earned P3.6 billion in operating income and sold P78.6 billion systemwide, up 80.9 percent and 31.1 percent respectively from the previous year.

With 111 outlets opened in the first quarter, the company is on track to meet its 550-600 store opening target this year.

As a result of overcoming macroeconomic headwinds last year, Jollibee Group achieved record-high business results, demonstrating once again its business fundamentals and growth plans, Ernesto Tanmantiong said yesterday at the company’s annual stockholder meeting.

A record-high operating profit of P9.9 billion was achieved by the Jollibee Group in 2022, up 58.4% from 2021 and better than the P9.3 billion it had earned before the pandemic.

Tanmantiong said that despite the many challenges the company has faced in recent years, the company has achieved another year of excellent financial performance.

“Increased dine-in sales, accelerated global expansion, and a resilient off-premise channel enabled us to achieve a record year for the company.”. “We were able to achieve this thanks to the support of our team, customers, and business partners worldwide.”.

As pandemic restrictions were eased in key markets, and the network expanded, Jollibee Group’s overall sales grew significantly. A record P296.8 billion was generated by systemwide sales (SWS) in 2022.

There are currently 542 Jollibee stores all over the world, most of them located in international markets. The number of international store openings in one year has exceeded the previous record for the third consecutive year.