Balai ni Fruitas logs P59 million in net income in 2023

Business.
Business.(Business File photo)

BALAI ni Fruitas Inc., generated revenues of P535 million in 2023, representing a 57 percent surge from its 2022 revenues of P341 million.

Despite continued challenges from inflation, the company posted higher Ebitda margin and net income margin in 2023.

Ebitda means earnings before interest, taxes, depreciation, and amortization. Balai registered 59 percent and 58 percent growths in Ebitda and net income, respectively.

Based on the latest available publicly disclosed financial results, Balai outperformed all other food service firms listed on the Philippine Stock Exchange, in terms of both revenue growth and net income margin in 2023. The company’s net income reached P59 million in 2023, marking a substantial 58 percent increase from P37 million in 2022.

The company also continued the expansion of its retail network, adding 20 stores in the year, ending 2023 with 118 stores.

Other strategic initiatives also contributed to the company’s significant sales growth, including the distribution of Balai Pandesal baked goods in other Fruitas stores, belonging to its associates, increased e-commerce sales through the Fruitas group’s website and third-party aggregators, and third-party modern trade distribution, particularly in Cebu. / PR

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