Fruitas net income up 37% in 2023

Food and beverage kiosk operator Fruitas Holdings Inc. reported a 37% growth in its net income in the past year, after posting the same growth in its revenues on the back of the expansion of its same-store sales and its e-commerce business.

In an emailed statement, Fruitas said its net income climbed to P113 million from P82 million, as revenues grew to P2.469 billion from P1.799 billion, while its gross profit increased by 42% to P1.494 billion from P1.052 billion.

The company added 44 stores to its network in 2023, ending the year with 817 stores from 773 the previous year, as it continued with its store network expansion in high-density areas.

“The successful integration of two acquisitions, Ling Nam and Fly Kitchen, into our business portfolio reflects our commitment to growth and diversification,” president and chief executive officer Lester Yu said.

“Additionally, the additional focus we are putting into our e-commerce business demonstrates our readiness to adapt to evolving consumer preferences and market trends,” he added.

Fruitas also operates the brands Fruitas Fresh from Babot’s Farm, Buko Loco, Balai Pandesal, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, and Sabroso Lechon. —Jon Viktor D. Cabuenas/ VAL, GMA Integrated News