NEWSFLASH

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44% INCREASE IN JOLLIBEE REVENUES
(Reprinted with permission from the Philippine Journal)

Manila, Nov. 2, 1997 - Leading Filipino fastfood giant Jollibee Foods Corp. said yesterday its consolidated gross revenues for the third quarter amounted to P2.28 billion, up 43.8 percent from P1.59 billion revenues for the same period last year.

The robust gross revenue growth is attributable to the continuing volume growth from its existing fastfood outlets and the opening of new Jollibee stores. Another factor is the aggressive outlet expansion of subsidiary Greenwich Pizza.

As of the end of the third quarter, the company had 227 domestic stores, while Greenwich had 103 stores.

Jollibee's latest diversification effort is Mary's Chicken, which is being rolled out with a target year-end total of nine restaurants.

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