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Fresh contribution from its newest acquisition and strength in the domestic market fueled the 24.1-percent surge in the nine-month earnings of homegrown fast-food giant Jollibee Foods Corp. (JFC) to P8.47 billion, offsetting the continued weakness in the China market.
In a stock exchange filing on Tuesday, the company led by tycoon Tony Tan Caktiong said revenues had expanded by 10.6 percent to P196.25 billion in the January to September period.
System-wide sales likewise climbed by 12 percent to P281.11 billion.
Growth in the Philippine market and Compose Coffee, the South Korea-based beverage brand that JFC had taken over in the third quarter, offset weak consumer spending in China, where sales declined by 12.1 percent.
According to JFC, Compose Coffee contributed 4.6 percent to global system-wide sales growth, and 1.
