Jollibee Q2 profit rises as global store network soars 45 per cent

Jollibee mascots
Jollibee Foods Corp (JFC) reported a 5.6 per cent year-on-year increase in second-quarter. (Source: Jollibee Facebook)

Global fast food giant Jollibee Foods Corporation (JFC) reported a 5.6 per cent year-on-year increase in second-quarter attributable net income to US$57.78 million, driven by strong gains in its overseas operations and record-high system-wide sales (SWS).

As of the end of June, the company’s global store network expanded 45.5 per cent year-on-year to 10,119 outlets, including 6695 international branches across China, North America, EMEA, and key Asian markets.

SWS for the quarter climbed 19.6 per cent to $2.06 billion, supported by a 32.6 per cent increase in the international business. The coffee and tea segment was the top performer, surging 68.6 per cent on the back of South Korean brand Compose Coffee.

Revenue rose 15.5 per cent to $1.4 billion, while operating income increased 19.1 per cent to $108.72 million. Same-store sales growth for the group was 5.5 per cent, with the Philippine business up 6.4 per cent and the international business up 4.1 per cent.

JFC CEO Ernesto Tanmantiong attributed the strong results to the company’s continued business momentum and improved operational execution. 

“This operating income growth highlights the strength of our coffee and tea segment and sustained contributions of our Philippine business and Jollibee International, underscoring the effectiveness of our multi-brand and multi-market strategy,” he added.

For the first half, attributable net income eased 0.7 per cent to $101.16 million from $101.88 million a year ago. SWS grew 19.2 per cent to $3.92 billion, while revenue rose 15 per cent to $2.66 billion and operating income gained 18.4 per cent to $195.3 million.

Chief financial and risk officer Richard Shin said capital spending will be “selectively deployed” to support growth in the Philippines, Jollibee International, and the coffee and tea segment.

He explains that China is showing early signs of recovery, while Smashburger in the US has a clear turnaround path. Compose Coffee is on track to exceed 3000 stores with a projected 36 per cent return on invested capital this year.

“This balanced approach ensures that our investments are aligned with both strategic priorities and return objectives,” said Shin.

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