Jollibee Cited as Third Most Admired Company in Asia

June 4, 1999 PSE CIRCULAR FOR BROKERS NO. 1316-99 Jollibee Cited as Third Most Admired Company in Asia Philippine fast-food leader, Jollibee Foods Corporation has been cited by the Asian Business magazine as the third Most Admired Company in Asia, behind global corporations Singapore Airlines and Sony Corporation. The Company improved its standing from last year's sixth place, climbing up three notches to pass such international giants as Toyota Motors and Coca-Cola. The survey, conducted by Asian Business since 1993, covers 248 regional and multi-national companies across Asia. LibLex It was also judged as one of the companies with the best prospects for future profits and best ability to cope against the backdrop of the widespread financial turmoil. Last year, it was named by Asian Business as the region's top consumer/retail company. Jollibee registered a first quarter consolidated net recurring income of P224 million. This translates to a 42% growth from the P158 million net income. The company's positive earnings performance was driven by growth in consolidated revenues to P3.09 billion (a growth of 28%) and systemwide sales to P3.8 billion (a growth of 21%) over the same period last year. Jollibee has earned numerous accolades from its success in establishing strong leadership in the highly competitive quick service food industry. Last year it was named as the Philippines' leading corporation by the Far Eastern Economic Review and one of the world's top emerging corporations by Forbes magazine. prLL It ended the first quarter with 310 stores for its Jollibee brand and 172 stores for Greenwich.