Jollibee Foods Corp. reports that first-quarter profit falls about 39% as higher costs reduce profitability, despite solid sales momentum. Bloomberg and Inquirer.net both cite elevated commodity costs and supply-chain pressures as key drivers behind the decline. In its financial disclosure, Jollibee says attributable net income attributable to equity holders of the parent company decreases to about P1.47 billion, a drop of roughly 38.8% to 39% versus the same period last year. Both outlets also note that the company’s results lead it to reassess its targets and spending plans. In the market reaction, Bloomberg reports Jollibee shares fall to a five-year low following the earnings release. The two reports agree on the direction and magnitude of the profit decline and on the overall cost pressures affecting the quarter, while focusing on how investors and management respond to weaker earnings.