PSE Market Summary:
The Philippine Stocks Market declined by 66.80 or 1.08% to close at 6,104.90. Total trades reached 27,347 with 58 stocks advances, 113 declines and 43 stocks unchanged.
CHIPS Profit Rises 11%
Cirtek Holdings Philippines Corp (PSE:CHIPS) posted an 11% year-on-year growth in net profits and 9% in net sales, respectively, for the full year 2012. The increase was driven by higher customer and application-specific packages comprising 65% of its output. Meanwhile, CHIPS also sets its 2013 sales forecast to grow by 25%.
JFC to Allot P5.5B For New Stores
Jollibee Foods Corporation (PSE:JFC) will spend P5.5 billion this year to expand further its existing stores to 30 more across all its brand her and abroad. JFC expects better returns for this year in anticipation of the incoming local elections.