Ernesto Tanmantiong is the incumbent chief executive officer of Jollibee Foods Corporation.
He has expressed his positive viewpoints regarding the financial performance of the food conglomerate.
As a company, Tanmantiong pointed out that they are very encouraged by the recuperation of the product supply of Red Ribbon in the Philippines.
Furthermore, he cited that they feel entirely encouraged by the continued increase in diner visits to their food stores.
The Jollibee Foods Corporation head affirmed that they appreciate the robust progress in their store network with sustained healthful return on invested capital, as well as the progressive momentum in their delivery venture.
In the United States, Tanmantiong also expressed his optimistic sentiments over the promising signs of recovery of their Smashburger business.
The chief executive officer of Jollibee Foods Corporation affirmed that 2019 was quite a challenging year for the food conglomerate.
Nevertheless, he relayed that they expect the firm to regain strength this year.
Tanmantiong said that they look forward to a much more robust profit and sales performance at the start of a new decade and the coming years.
This expectation comes even as Jollibee consolidates the financial performance of Coffee Bean and Tea Leaf (CBTL) into their financial results, Tanmantiong remarked.
According to the report posted online by The Philippine Star, an English-language print and digital newspaper, Jollibee Foods Corporation witnessed its net income diminish 14.4 percent to P6.3 billion in 2019.
The Asian food giant has been experiencing the negative impacts of its supply dilemmas and the latest acquisitions on its financial aspects.
Last year, Jollibee created P10.1 billion in capital investments. They made this amount mostly for new stores, supply chain facilities, and renovations.
The company’s revenue surged 11.4 percent to P243.8 billion. Moreover, its fourth-quarter net income was flat at P2.2 billion.
This amount was on revenue worth P52.4 billion, which indicated an increment of 17.7 percent.
The Jollibee Foods Corporation opened 273 stores in the Philippines for the entire 2019. Besides, it inaugurated 224 new stores overseas.
The food behemoth concluded 2019 with 5,971 stores. They comprise the 1,173 stores of CBTL.
The total store network of Jollibee surged by 32.1 percent year-on-year.
Jollibee Foods Corporation (PSE: JFC) closed on February 18, 2020 at P185.20 per share, down by 3.60 or 1.91 percent.
The Total Value reached P94,163,351.00. Moreover, the 52-week high of Jollibee is 322.60.
Meanwhile, the 52-week low of Jollibee Foods Corporation is at 184.10, as per the information posted online by the Philippine Stock Exchange, the national stock exchange of the Philippines.
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