According to company president and CEO Ernesto Tanmantiong, the company surpassed its profit outlook, driven by an 11.3% revenue increase, leading to a 13.7% rise in operating income and a 26.9% surge in net income attributable to equity holders.
During Friday afternoon’s annual stockholders' meeting, Tanmantiong highlighted that system-wide sales (SWS) for the period also grew by 10.4% to P86.8 billion. Both domestic and international markets contributed to this double-digit growth.
The strong Q1 performance follows a record-breaking 2023, where Jollibee achieved a 15.2% year-on-year revenue growth, reaching P244.1 billion.
Operating profit soared by 45% to P14.4 billion, and net income increased by 16% to P8.8 billion last year. Jollibee also saw a 16.3% increase in SWS to P345.3 billion, driven by same-store sales growth and new store openings.
Looking ahead, Tanmantiong said Jollibee aims to triple its net income in the next five years by expanding internationally, growing its coffee and tea business, and maintaining robust growth in the Philippines.
The company also plans to accelerate digital transformation and enhance operational efficiency.
Tanmantiong expressed confidence in achieving these goals, emphasizing the company's commitment to sustainable growth and long-term value creation for stakeholders.
