Jollibee Posts Record Q413 Results
News: Philippines-based Jollibee Foods (JFC) recorded a 29% year-on-year (y-o-y) rise in net income to PHP1.55bn (US$34.77mn) in Q413, from PHP1.21bn (US$27.1mn) in Q412, according to the company. Revenues rose 14.7% y-o-y to PHP22.429bn (US$501.6mn) in Q413, from PHP19.56bn (US$437.44mn) in Q412. The company's Q413 results drove a 26.5% rise in full-year profit to PHP4.694bn (US$104.89mn), up from PHP3.71bn (US$83mn) in the same period of the previous year. JFC posted PHP80.26bn (US$1.79bn) of total revenues in 2013, which was up 13% compared with PHP71.05bn (US$1.58bn) in the same period in 2012. The company's profit (attributable to equity holders of the parent firm) rose 24.5%, which is the fastest growth rate in the past seven years.