Jollibee Optimistic Of Recovery In 2021, Earmarks ₱12.2-b Capex
Manila Bulletin|February 16, 2021
Jollibee Foods Corporation reported an attributable net loss of ₱11.5 billion last year, 257 percent lower than the ₱7.3 billion earned in the same period of 2019 due to the impact of the COVID-19 pandemic.
James A. Loyola
Jollibee Optimistic Of Recovery In 2021, Earmarks ₱12.2-b Capex

However, the firm is optimistic of a recovery this year and has set a capital expenditure (capex) budget of ₱12.2 billion, 22 percent higher than the actual spending in 2019 of ₱10 billion, to fund the opening of about 450 stores (gross).

The firm disclosed to the Philippine Stock Exchange that it generated a net income of ₱P2.0 billion in the fourth quarter of 2020, after incurring net losses in the past three quarters caused by the pandemic.

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