FOOD SERVICES | Staff Reporter, Philippines

Jollibee's net profit up 16.3%

It grew 16.3% year-on-year to P5.11b on higher earnings from its expanding restaurant network worldwide.

Jollibee saw a 21.1% year-on-year growth in net profit to P1.62b in the third quarter alone. Its system-wide sales also rose by 14.5 percent year-on-year in the nine-month period.

The firm opened 265 new stores during the period, a 32% rise.

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