junix
13 years ago
Jollibee's Chowking opens in Oman
http://www.abs-cbnnews.com/business/05/22/12/first-chowking-store-opens-oman
First Chowking store opens in Oman MANILA, Philippines - Fast food chain Chowking opened its first store in Oman on Sunday.
Chowking is a popular Chinese fast food brand under Jollibee Foods Corp., which offers noodles, dimsum and rice bowls.
The first store in Oman, located in Qurum City Centre, Muscat, was inaugurated last Sunday. The ribbon-cutting ceremony for the branch was attended by Philippine Chargé dβAffaires Jose L. Garcia III and Chowking Omanβs owner Ahmed Husain Lasir.
Chowking Oman General Manager Bunny Malik said the management is already looking at opening a second store in Muscat, as well as opening the first Jollibee store in Oman.
In a statement issued by the Department of Foreign Affairs, Garcia said he welcomed these initiatives and expressed hope that more Philippine fast food chains will also open in Oman.
JFC, the country's largest food service company, with 2,004 stores in the Philippines, which include brands Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King.
There are several Jollibee, Red Ribbon and Chowking stores around the world. In the Middle East, there are 7 Jollibee stores in Jeddah, 1 in Qatar and 1 in Kuwait.
goldisking3000
15 years ago
Jollibee posts 12.8% growth in 9-mo profit
Philippine Daily Inquirer
First Posted 20:40:00 11/11/2009
Filed Under: Company Information
FASTFOOD GIANT JOLLIBEE Foods Corp. reported a 12.8-percent rise in nine-month net profit to P1.85 billion over a year ago, as overall sales were boosted by its offshore businesses, particularly in fast-growing China.
For the third quarter alone, net profit was up by a modest 5.2 percent to P539 million over a year ago due to weakness in domestic consumer spending
System-wide sales, or the sales recorded by both company-owned and franchised stores, went up by 11.2 percent in the first nine months year-on-year, boosting operating profit by 14.1 percent.
JFC chair and chief executive officer Tony Tan Caktiong said in a statement that sales in China for the third quarter alone surged by 76 percent year-on-year. Even excluding the effect of the acquisition of Hong Zhuang Yuan in October last year, sales in China also grew by 35.5 percent during the period.
βOur China business now accounts for 10.4 percent of the Jollibee groupβs worldwide sales. Our total foreign business grew by 52.8 percent over last year and now contributes 18.6 percent of JFCβs total sales versus only 3 percent just a few years ago,β Tan Caktiong said in a press statement.
Third-quarter domestic sales growth, however, slowed down to 2.3 percent on weak consumer spending aggravated by the strong typhoon in September.
βBased on our data, consumers slowed down on their spending and increased their savings rate after going through a period of high inflation in 2008,β Tan Caktiong said.
βWe view this slowdown in spending as temporary. It may take the consumer a year or a little more to adjust totally to the new price levels. We believe that our sales in the Philippines will grow more robustly as soon as spending on consumer goods rise with the economic recovery,β he added. Doris C. Dumlao