MANILA – Jollibee Foods Corp said Monday its net income April to June period fell 50.2 percent due to "extraordinary" manufacturing expenses, losses from Smashburger and lower sales of Red Ribbon.
MANILA – Jollibee Foods Corp said Monday its net income April to June period fell 50.2 percent due to "extraordinary" manufacturing expenses, losses from Smashburger and lower sales of Red Ribbon.
Shares of the country's largest fastfood operator fell 4.26 percent at the close of trading, compared to a decline of 2.95 percent in the main index.Smashburger, based in the US, permanently cut prices and improved its products, JFC chief financial officer Ysmael Baysa said.
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