Jollibee Foods Corp. (JFC) posted a 38.8 percent decline in first-quarter net income attributable to equity holders, amounting to P1.47 billion, as rising commodity and supply chain costs linked to recent geopolitical tensions in the Middle East weighed on profitability, despite double-digit sales growth and aggressive global expansion.
In a disclosure, JFC said systemwide sales rose 10.3 percent to P113.9 billion, while revenues climbed nine percent to P76.5 billion in the January-to-March period, driven by strong demand across both Philippine and international markets. The company opened 181 new stores worldwide during the quarter, including 149 overseas outlets, bringing its global network to 10,421 stores across 33 countries.
International brands such as Compose Coffee, Highlands Coffee, and Tim Ho Wan led growth momentum. However, elevated input and logistics costs pressured margins, causing operating income to fall 18.2 percent to P3.95 billion. JFC said inflationary pressures intensified amid recent geopolitical developments, prompting the firm to implement selective price increases and tighter cost management beginning in the second quarter.
For 2026, JFC said it remains committed to long-term expansion but is reviewing the pace of store openings, capital spending, and profitability targets as volatility in the Middle East continues to affect global supply chains and commodity prices.
