Jollibee Foods Corp.’s profit fell 39% in the first quarter as costs surged, prompting the Philippines’ largest fastfood chain operator to review its targets and spending plan. Shares fell to the lowest in five years.
Jollibee Shares Drop to Five-Year Low as Profit Sinks 39% on CPI
Jollibee Foods Corp.’s profit fell 39% in the first quarter as costs surged, prompting the Philippines’ largest fastfood chain operator to review its targets and spending plan. Shares fell to the lowest in five years.
This article was originally published by
Bloomberg Markets
and is republished here under license.
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