HOMEGROWN fast-food giant Jollibee Foods Corp. (JFC) is optimistic about its growth prospects as it pursues partnerships and expansion into new markets.

"In five years, we aim to triple Jollibee Group's value in terms of net income attributable to equity holders of the parent company," JFC President and CEO Ernesto Tanmantiong told stockholders on Friday.

"With our portfolio of strong, valuable brands, the support of our global team and our consistent efforts to drive long-term growth, we are confident in our ability to deliver on this goal," he added.

Tanmantiong said the firm would continue to execute a growth strategy that includes further expanding the Jollibee brand internationally, growing the coffee and tea business, accelerating rollouts in China, especially in multiple lower-tier cities, and sustaining robust growth and market leadership in the Philippines.

Earlier this year, JFC disclosed investments in US-based beverage technology firm Botrista Inc. worth $28 million, which it said would provide commercial and strategic synergies with its coffee and tea brands.

In April, JFC committed $90 million for the Titan Fund II, where it has a 90-percent participating interest, for a focus on strategic investments in food and beverages concepts.

"The Jollibee Group will capitalize on these important opportunities to grow our business with strategic partners and investments and continue to create both near and long-term value for our stakeholders," Tanmantiong said.

In 2023, JFC established a joint venture with Singapore-based Food Collective Pte. Ltd. to own, produce, and operate the Tiong Bahru Bakery and Common Man Coffee Roasters brands in the Philippines.

The flagship Jollibee brand, meanwhile, has been recognized as the second fastest-growing restaurant brand in the world, based on the latest rankings by Brand Finance.

It also achieved fifth place in the strongest restaurant brand category with a rating of AAA from AA- the previous year. Jollibee is the only Filipino brand listed in the 2024 Top 25 Most Valuable Restaurant Brands and Top 10 Strongest Restaurant Brands.

JFC's shares grew by P2, or 0.89 percent, to P226 apiece on Friday amid a 0.33-percent rise for the benchmark Philippine Stock Exchange index.

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