Jollibee nets 27percent higher income last year

BusinessWorld Online: Corporate News

Jollibee Foods net up 27.8% in audited report

Fastfood giant Jollibee Foods Corp. posted a 27.8% growth in net profit last year on the back of gains from recently acquired food companies.

The company’s audited financial statements showed a net income of P2.16 billion for 2006 from P1.69 billion the previous year. Revenues rose to P33.9 billion for the year, up 16.8% from P29.04 billion in 2005. Last February, Jollibee reported a net income of P2.14 billion in its unaudited financial report.