Jollibee Foods Corp. (JFC) is banking on its international businesses to drive growth in both sales and profits this year.   

“The international business will drive our sales and profit growth with our continued expansion in China, Vietnam, and North America led by Smashburger and our Philippine brands,” Ernesto Tanmantiong, president and chief executive officer of JFC, said at the stockholders’ meeting on Friday.  

“We are also expecting the Coffee Bean and Tea Leaf and Highlands Coffee to contribute significantly to this growth,” he added.   

JFC’s businesses abroad are said to contribute 40% to its global systemwide sales. The company is hoping to increase this to at least 50% of global systemwide sales in three years, reaching its goal of having a 50/50 business split.   

Expansion plans will be accelerated in the coming months prompted by the positive outlook in China and the United States, which are recovering faster from the pandemic, Mr. Tanmantiong said, adding the Philippines is expected to follow suit. 

JFC has earmarked a record P12.2-billion for capital expenditures this year, funded by internally generated funds and proceeds from its bond issuance last year.   

“We are opening about 450 stores in 2021,” Mr. Tanmantiong said. “In 2022, as the world returns to normalcy, we expect to open at least 500 stores similar to how we were doing prior to the pandemic and most likely, even higher than 500 in the succeeding years.”  

As of the first quarter this year, the company opened 79 stores across its brands, while 76 stores were permanently closed.  

Shares of JFC at the stock exchange on Friday went up by 1.89% to close at P216 apiece from P212. — Keren Concepcion G. Valmonte   

Arthaland Corp. on Friday said it will be launching two new projects, one in Cebu City and another in Makati City, this year. 

Arthaland will launch Lucima, a residential condominium which will be built on a 2,245 square-meter (sq.m.) property close to the Ayala Center Cebu, within the third quarter. 

Lucima will offer around 263 residential units and will have a gross floor area of 28,000 sq.m.  

The company said the Makati luxury residential development  will also be launched in the third quarter. Located  in Legazpi Village, it will offer 37 residential units.  

“This pioneer residential project in Makati City will be a low-density, multi-certified, ultra-luxury development that will offer large, limited edition designer residences. Once completed, its future residents will enjoy exceptional white glove butler services,” Jaime C. Gonzalez, president of Arthaland, said.  

The company said its estimated construction cost for the year is around P4.5 billion.   

Mr. Gonzalez said most of its office and residential projects are on track for completion, despite challenges brought by the pandemic. 

“While our financial statements for 2020 do not reflect the extent of the work performed by the Arthaland team in completing the plans for these projects, it is nonetheless a substantial achievement for Arthaland because it ensures continuity of the pipeline of new projects,” Mr. Gonzalez.   

The company’s profits declined by 21% to P1.17 billion in 2020 from P1.49 billion the previous year. Arthaland recorded a topline of P3.3 billion, 14% lower than the P3.85 billion generated in 2019.  

Strict lockdowns last year led to a temporary halt in construction of its projects, which have since resumed.   

“We are very proud to report that phase 1 of Cebu Exchange was successfully handed over to buyers on its pre-pandemic delivery date,” Mr. Gonzalez said.   

The second phase of the office building is 88% complete as of this month and is expected to be operational by the fourth quarter this year. Arthaland expects to turn over units to buyers by the second quarter of 2022.   

Meanwhile, Savya Financial Center’s North Tower is now 48% complete. The company topped off the tower in February and is slated for completion by the fourth quarter. Its South Tower is expected to be completed by the fourth quarter next year. Structural work for its 9th floor is underway.   

Arthaland’s Sevina Park in Binan, Laguna is 93% completed. The first batch of Sevina Park Villas are being constructed. The company said it is on track to turnover the first set of units by the fourth quarter.  

Shares of Arthaland at the local bourse closed unchanged on Friday at 66 centavos each. — Keren Concepcion G. Valmonte  

Discovery Hospitality Corp. (DHC) said it has signed a management contract with Manami Resorts to launch a wellness destination in Sipalay City of Negros Occidental.   

Manami will be the first development under DHC’s newest brand called the Signature Collection, a curated portfolio of hotel and resort properties. It is set to be opened in early 2022.  

“We immerse ourselves fully when we envision the properties that will be a part of this. It’s a fully sensory experience for us, which is a vital component of being able to curate and design these experiences with much thought and care,” DHC Chief Operating Officer and Discovery World President Jose C. Parreno, Jr. Said.  

DHC is the property management company of listed Discovery World Corp., 

Manami will be built on the hillside overlooking the Sulu Sea, making it a “dreamy wedding destination” which may be accessed through Bacolod or Dumaguete.   

The resort will feature villas and suites with designs inspired by Spanish haciendas, Manami will also have spas and pools. Guests may join nature walks and meditation programs.  

“Every corner of this place is so beautiful, you’ll see nature celebrating with you for weddings and celebrations in an unusual way you’ve never seen before,” Mr. Parreno said.  

On Friday, shares of Discovery World at the stock market went down by 1.90% or six centavos to P3.10 each. — Keren Concepcion G. Valmonte   

8990 Holdings, Inc. reported its net income grew by 18% in the first quarter, driven by higher revenues from its low-cost, mass housing segment.   

In a disclosure to the exchange on Friday, the company said it generated a P1.56-billion net income in the first quarter from P1.32 billion during the same period in 2020.   

Consolidated revenues also rose by 29% to P4.48 billion from P3.47 billion.   

“The increase was mainly attributable to the increase in low-cost mass housing which posted a revenue of P2.34 billion in [the] three months ended March 31, 2021,” 8990 Holdings said.   

Aside from mass housing, the company also develops medium-rise and high-rise condominiums, as well as a hotel. 

Its first quarter results came as 8990 Holdings said it also recorded a “respectable performance” in 2020, amid challenges brought by the lockdowns due to the pandemic.  

The company saw its profit fall 16% to P4.83 billion in 2020, from P5.86 billion in 2019. Meanwhile, revenues declined by “a mere eight percent” to P14.23 billion from P15.4 billion.   

8990 Holdings Chairman Mariano D. Martinez, Jr. attributed this to the resilient mass housing segment of the country.   

“The buyers of our units are mostly end-users, and we know that the country still has around five to six million housing [backlogs]. This is why we continued to generate sales from supervisors and managers of various companies, as well as the spouses of overseas Filipino workers despite the effects of the pandemic,” Mr. Martinez said.  

On Friday, shares of 8990 Holdings at the stock market closed lower by 2.03% or 15 centavos at P7.25 each. — Keren Concepcion G. Valmonte