Jollibee posts profit growth in 2009, eyes better performance

Listed fast-food giant Jollibee Foods Corp. expects more robust growth this year after net earnings grew by almost a quarter to P813 million in the last quarter of 2009 due to lower raw material costs, more efficient marketing spending and lower income taxes.

The company’s earnings for the full year also increased by 14.6 percent from a year earlier as system-wide sales from company-owned and franchised stores went up by almost a tenth, Jollibee said in a statement on Thursday.

“We look forward to a more robust growth in 2010 particularly in the Philippines and China, as we now have better products, price points, store quality, and marketing campaigns driven by even stronger organizations,” Jollibee Chairman and Chief Executive Officer Tony Tan Caktiong said.

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