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Jollibee Foods Q3 profit climbs 13.2% YOY

Jollibee Foods Corp. said its third-quarter normalized net income was 90 Philippine centavos per share, a gain of 12.5% from 80 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 985.3 million pesos, a gain of 13.2% from 870.2 million pesos in the year-earlier period.

The normalized profit margin fell to 3.9% from 3.9% in the year-earlier period.

Total revenue grew 13.6% year over year to 25.05 billion pesos from 22.05 billion pesos, and total operating expenses grew 14.1% from the prior-year period to 23.56 billion pesos from 20.64 billion pesos.

Reported net income increased 7.3% on an annual basis to 1.26 billion pesos, or 1.16 pesos per share, from 1.17 billion pesos, or 1.08 pesos per share.

As of Nov. 10, US$1 was equivalent to 47.27 Philippine pesos.