Jollibee posts record quarterly profit as international sales rise 25%

Vietnam is Jollibee's strongest individual market.

Jollibee Foods Corporation reported a record quarterly net income attributable to equity holders of $54.2m (Php3.4b), up 5.7% year-on-year (YoY), for the second quarter of 2026, as international sales growth and margin recovery drove the strongest bottom-line result in the group's history.

Consolidated revenues rose 10.7% and system-wide sales grew 14.2% year-on-year. International system-wide sales grew 25.4%, led by Highlands Coffee at 46.7%, Compose Coffee at 39.7%, EMEAA brands at 25.3%, Tim Ho Wan at 23%, Jollibee North America at 21.6%, and Milksha at 12.4%.

The result also reflected a sharp recovery from the first quarter. Consolidated revenues rose 12.2% quarter-on-quarter, gross profit increased 25.3%, operating income rose 56.1%, and net income more than doubled, up 130.5%. Gross profit margin improved to 18.5% in the second quarter from 16.5% in the first, strengthening further to 19% by June.

Vietnam was the strongest individual market, with Jollibee Vietnam delivering 47.6% system-wide sales growth and 17.9% same-store sales growth in the quarter, supported by 19 new store openings in the first half. The group said store payback in Vietnam is less than four years.

The Philippine business grew system-wide sales 5.7%, supported by Mang Inasal at 10.7% and Jollibee at 6.6%. Same-store sales growth for the group was 2.7%, with the Philippines at 1.3% and international at 4.4%.

The group's store network grew 6.4% year-on-year to 10,767 stores across 33 countries, following 461 gross new openings and the addition of 172 stores from the acquisition of Shabu All Day, partly offset by 207 closures. Around 70% of the network is franchised.

Reported profitability included $3.81m (Php239m) in transition costs related to the ongoing shift of Yonghe King and Smashburger toward franchised models.

In North America, the group signed its first multi-unit development agreement in British Columbia and a 10-store agreement for Edmonton, together adding 26 committed franchise locations expected to nearly double Jollibee's Canadian footprint over five years.

Meanwhile, the brand recently announced that it plans to spin off its international business by listing in Hong Kong.