Jollibee Foods Corp. is allocating 17.8 billion pesos ($347 million) in capital spending this year, pursuing an aggressive expansion after profit in the fourth quarter last year exceeded 2019 level.
The strong recovery could continue in 2022 “particularly if the restrictions in the Philippines are fully lifted, coupled with increased consumer spending during this election year,” Chief Executive Officer Ernesto Tanmantiong said in a statement on Thursday.
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