HOMEGROWN fast-food giant Jollibee Foods Corp. (JFC) expects its expanding beverage business to contribute as much as 40 percent to total revenues by 2029, with food accounting for the remainder.
HOMEGROWN fast-food giant Jollibee Foods Corp. expects its expanding beverage business to contribute as much as 40 percent to total revenues by 2029, with food accounting for the remainder. JFC Chief Financial Officer Richard Shin told reporters late Tuesday that the group's beverage units were currently contributing 20 percent to earnings before interest, taxes, depreciation and amortization.
Highlands Coffee has been a 'stellar' performer, particularly in Vietnam, and has emerged as a cornerstone of JFC's beverage strategy, Shin said, adding that JFC's investment in Botrista, a US-based distribution platform specializing in beverage technologies, would give it added leverage in terms of innovation in the sector.
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