Homegrown favorite restaurant company Jollibee Group is included, along with 37 other Philippine companies in the inaugural Fortune Southeast Asia 500. Fortune, a global multi-platform media company known for their Fortune 500 list, ranked the largest companies in the region by their total revenues for the 2023 fiscal year. The Jollibee Group was ranked 86th in the overall list, with a revenue of US$4,391.1M and a profit of US$157.7M. It was also the 9th highest ranked Philippine-based company.
In 2023, JG recorded a 15.2% year-on-year growth, reaching an all-time high total revenue of P244.1B. The Company also generated a new record operating profit of P14.4B, which was a 45% increase compared to full year 2022.
"Behind our business performance is our passionate commitment to providing truly delicious food coupled with exceptionally caring and warm customer service. Our recent inclusion in Fortune's inaugural list of Southeast Asia 500 Companies reflects this deep commitment and inspires us to keep dreaming big and exceeding people's expectations as a restaurant company," said Ernesto Tanmantiong, JG President and CEO. "We dedicate this recognition to our teams and partners all over the world who share our passion and dedication to our mission of serving great-tasting food, bringing the joy of eating to everyone.
The Jollibee Group has a diverse portfolio of 18 brands with over 6,800 stores across 33 countries. Its brands include Jollibee, its flagship brand for chicken category; The Coffee Bean & Tea Leaf for coffee and tea; Tim Ho Wan for Chinese cuisine; and Smashburger for better burgers.
JG has set aggressive growth plans this 2024 and beyond, which includes expanding the Jollibee brand internationally, growing its coffee and tea business, exponentially growing its presence in China, and sustaining its robust growth and market leadership in the Philippines.
Companies included in the inaugural Southeast Asia 500 join an elite group of firms recognized under the Fortune 500 franchise, which spans the original Fortune 500, the Fortune Global 500, the Fortune Europe 500, and the Fortune China 500.
"The Fortune Southeast Asia 500 reflects a dynamic and fast-changing region- one whose core economies are growing notably faster than those of Europe or the US. Southeast Asia takes on far greater significant in the global economy due to shifting supply chains and the rapid development of the region's economies," said Clay Chandler, Executive Editor, Asia.
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