Jollibee most admired company in RP: WSJ Asia

MANILA - Fastfood giant Jollibee Foods Corp. (JFC) is the most admired company in the Philippines, according to the annual Wall Street Journal Asia 200 survey.

JFC ranked number one in terms of corporate reputation and innovation, earning the votes of the publication's subscribers as well as top businessmen. The company edged out property developer Ayala Land Inc., which dropped to the third spot after its parent firm Ayala Corp. moved up to second place.

The survey cited affordability and accessibility as major factors in helping JFC claim the top spot. To date, the corporation already has 1,825 stores, including 307 overseas.

"With its consistently high-quality food at value prices, the various brands under JFC became the top choice of more consumers trading down from expensive restaurants. These are customers who have foregone their fine dining fixes to enjoy more value-for-money fare at any of JFC's quick service restaurants," JFC said in a statement.

"Jollibee is a barometer for the Philippine economy," JFC added, citing ATR KimEng economist Luz Lorenzo.

Other companies who made it in the list were diversified conglomerate San Miguel Corp., which landed in the fourth spot, followed by Bank of the Philippine Islands, Globe Telecom Inc., Banco de Oro Unibank Inc., Philippine Long Distance Telephone Co., SM Prime Holdings, and Metropolitan Bank and Trust Co.

JFC reported a 17.2-percent rise in earnings for the first three months of the year to P562 million from P480 million in the same period last year. Its system-wide sales, on the other hand, grew 13.8 percent to P15.1 billion.

http://www.abs-cbnnews.com/business/06/09/09/jollibee-most-admired-company-rp-wall-st-journal-asia


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