Food and beverage kiosk operator Fruitas Holdings Inc. on Tuesday bared income tripling to P19.2 million in the first quarter from only P6.4 million last year. It projected even better performance in the months ahead with the addition of the Ling Nam brand to its portfolio.
Revenue rose 56 percent to P515 million from P330 million last year.
“We expect to keep putting in strong performances in the upcoming quarters through a combination of organic growth and contribution from recent acquisitions. To promote sustainable growth and profitability, we will continue to invest in our brands, channels, customers, and employees,” Lester Yu, Fruitas president and CEO, said.
He revealed prospective acquisitions that fit its portfolio an now in varying stages of discussion.
Fruitas holdings owns a network of more than 800 stores as at end-March this year and has added 10 more since then.
The group has expanded its network inside and outside Metro Manila, including the recently acquired Ling Nam restaurant in Zamboanga set to open in the third quarter this year.
Its entry into the Asian casual dining space via Ling Nam is designed to diversify its revenue base.
