Record sales enrich Fruitas yield to P65M
Record-high sales buoyed the first-half profit of Fruitas Holdings Inc. by nearly 50 percent to P65 million.
The holding firm led by businessman Lester Yu on Thursday said in a statement revenues during the period flourished by 21 percent to a record P1.4 billion.
Fruitas cited growth in listed bakery arm Balai ni Fruitas, the company’s beverages, and noodle house Ling Nam as among the key drivers of the increase.
“Our performance in the first half of 2024 is a testament to the group’s ability to seize high-value opportunities across our diverse portfolio,” said Yu, Fruitas president and CEO.
Fruitas currently operates over 25 brands, including Fruitas Fresh, Buko Loco, Buki ni Fruitas, De Original Jamaican Pattie and Johnn Lemon.
Gross margin improved to 59.6 percent from 59 percent previously. Earnings before interest, taxes, depreciation and amortization surged by a third to P207 million.
Balai reported a 30-percent climb in net income to P32 million, driven by “higher-margin products, strategic expansion efforts and operational efficiencies.”
Revenues likewise grew by 27 percent to P315 million.
In May, Balai, which also operates Balai Pandesal, acquired legacy cake brand Sugarhouse to further broaden its product portfolio.
Sugarhouse currently has only two branches in the Philippines, both in Metro Manila.
Yu earlier said they wanted to boost Sugarhouse’s online presence through Balai Pandesal’s e-commerce platform, and later offer its products in the stores of other brands, such as Ling Nam.
Balai also aims to launch the brand in Cebu City by next year.
Further, Balai recently partnered with D’ Famous Red Box Corp. to become the exclusive distributor of Polland Hopia in Cebu and Zamboanga.
”The recent establishment of strategic partnerships further illustrates our dedication to leveraging our core strengths,” Yu said.
Fruitas’ store network ended the first semester with 834 stores. The group plans to add 20 more stores by the end of the year.
