Jollibee eyes UK growth despite growing losses

The Filipino fast food chain, which operates 12 sites across the UK, saw revenue rise to £17.9m in 2022 from £11m the previous year.

However, it swung to a loss of £6.5m in the UK over the year, compared to a £4m loss in 2021.

The chain says that while modest increases in revenue are forecast in 2023 and 2024, it expects to make a loss in both years as inflation, especially in the cost of food, combined with the rise in the National Living Wage takes a toll on its costs.

Despite this, Jollibee remains focused on growing its UK presence, with much of the expansion planned expected to take place after 2025.

In the shorter term it will also be working towards improving its financial performance.

Jollibee was founded in the Philippines back in 1978, and currently operates close to 1,600 locations worldwide.

The chain is best known for its ‘Chickenjoy’ fried chicken; Jolly spaghetti, which is topped with chopped up hot dogs and tomato sauce; and a breakfast dish of corned beef with garlic rice and egg.

It opened its first UK restaurant in London’s Earl’s Court back in 2018.