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Chowking sales up 13% at P10.1B in 2007


Jollibee Foods Corp. on Wednesday reported that 2007 sales of its Chinese food unit Chowking Food Corp. breached the P10 billion mark despite the rising cost of doing business. In a disclosure to the Philippine Stock Exchange, JFC said Chowking’s sales rose 13 percent to P10.1 billion, as it opened 36 new stores in the Philippines in 2007. The Chinese quick service restaurant had P1 billion in sales in December alone. Sales are projected to increase even further to P11.3 billion this year. “…it hopes to gain more market share through improved food taste, more affordable food choice, sustained marketing efforts, and more innovative salesmanship in stores," said JFC. The company said the healthy sales performance was achieved despite increased cost of raw materials, particularly the 30-percent rise in flour prices, as well as higher utility costs from the successive fuel price hikes last year. - GMANews.TV

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