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Jollibee Foods Corp. is increasing its capital expenditures budget to P17.8 billion for 2022, up 128% from 2021, to open 500 new stores. The majority of the capex budget, P10 billion, will go towards new stores and renovations. In Q4 2021, Jollibee saw sales and profit growth as systemwide sales increased 25.2% year-over-year and net income grew 59.6%. For full-year 2021, Jollibee swung to a profit of P5.94 billion from a loss in 2020, though profits were still lower than pre-pandemic levels in 2019. Jollib

Author

Jasmina Pilapil

Language

EN