Balai ni Fruitas nets P52M on strength of bakery biz

Balai Ni Fruitas Inc., the listed bakery unit of businessman Lester Yu, booked a 26-percent jump in nine-month net income to P52 million, buoyed by the strength of its flagship brand.

Balai on Thursday said revenues during the period ended at P487 million, up by 26 percent. Balai Pandesal remained the revenue driver, the company said in a stock exchange filing, due to high demand for its anchor bread products.

Earnings before interest, taxes, depreciation and amortization likewise surged by 40 percent to P104 million.

“This solid growth reflects the continued popularity of our flagship brand, Balai Pandesal, and the resilience of our business despite economic challenges,” Yu, president and CEO of Balai, said in a statement.

Balai, where Fruitas Holdings Inc. holds a 75-percent stake, acquired the assets of Balai Pandesal in June 2021. This allowed Balai Pandesal to expand its store network from five to more than 50 today, the company said.

Its other brands include Buko ni Fruitas, Fruitas House of Desserts and the recently acquired legacy cake maker Sugarhouse.

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Sugarhouse currently has only two branches, both of which are in Metro Manila. Yu previously confirmed they wanted to bring the brand to Cebu City next year while focusing on growing its digital presence in Metro Manila through Balai’s e-commerce stores.

Parent firm Fruitas Holdings has also confirmed to the Inquirer plans to take over Mang Bok’s Lechon Manok to further diversify product offering. The source said they were eyeing to close the deal with the 20-year-old roasted chicken maker by the end of November.