Jollibee Foods Corp., the biggest fastfood chain, Puregold Price Club Inc. and Filinvest Land Inc. registered respectable profits in the first six months of the year on increased revenues.
Jollibee said net income in the second quarter of the year rose 18.1 percent to P1.95 billion from P1.65 billion year-on-year on faster growth in profit in foreign businesses as well as lower losses in joint ventures.
Jollibee said in a disclosure to the stock exchange systemwide sales, a measure of all sales to consumers both from company-owned and franchised stores, increased 14.7 percent to P42.54 billion in the second quarter of the year.
Consolidated cost of sales climbed 15.2 percent to P3.47 billion from a year ago level, driven by store expansion.
Jollibee opened 157 stores in the first six months of the year, including 108 in the Philippines and 49 overseas.
The second-quarter performance boosted first half net profits to P3.48 billion, up 14.2 percent.
Puregold, the supermarket chain owned by billionaire Lucio Co, reported a consolidated net income of P2.49 billion in the first half of 2017, up 9.8 percent from P2.27 billion in the same period in 2016, on strong sales.
Puregold said consolidated net sales increased 10.8 percent in the first six months of 2017 to P56.6 billion due to the strong consumer demand from its existing Puregold, S&R stores and S&R New York Style Pizza stores
Consolidated net margins for the period stood at 4.4 percent.
“We continue to see growth in both our Puregold and S&R businesses even without the benefits of election year. Our first half 2017 same store sales growth of 4 percent for Puregold stores and 10 percent for S&R stores were driven by continued strong consumer demand and trust in our stores and the sustained economic growth of the country.” said Puregold president Vincent Co.
Filinvest Land, one of the country’s largest integrated real estate and office developers, said net income reached P2.66 billion in the first half of 2017, an eight percent increase from a year ago.
Filinvest Land attributed its strong first half performance on the continued growth in residential business and aggressive expansion of its retail and office projects.
Residential revenues in the six-month period rose eight percent to P7.50 billion from P6.93 billion on year.
Sales take-up surged 12 percent in the first six months of the year to P9.48 billion, driven by new residential project launches.
Rental revenues also grew at faster rate of 25 percent to P2 billion from P1.6 billion as the firm booked increased sales from its new office and retail buildings.
The property firm currently operates 21 office buildings totaling 312,000 square meters of gross leasable area.