Balai ni Fruitas Inc., the bakery arm of Fruitas Holdings Inc., reported a 15 percent year-on-year increase in net income to ₱67.83 million in 2024, up from ₱58.64 million in 2023, driven by strong sales performance and strategic expansion initiatives.
Company revenue rose 25 percent to ₱668 million from ₱535.2 million in the previous year, fueled by improved same-store sales and a broader retail footprint. According to the company, Balai ni Fruitas outpaced all other foodservice companies listed on the Philippine Stock Exchange (PSE), marking its second consecutive year leading the sector in revenue growth and maintaining one of the highest net income margins in the industry.
“Balai’s sustained momentum highlights the strength of our multi-brand platform and the growing consumer preference for value and quality in the bakery space,” said Fruitas Holdings in a disclosure.
A key driver of 2024 performance was the acquisition of the 40-year-old Sugarhouse brand in April, along with its operational assets. This strategic move expanded Balai’s portfolio into the premium cake segment and boosted its production capabilities. The company noted that the integration of Sugarhouse creates synergy across its existing brands—Balai Pandesal, Buko Ni Fruitas, and House of Desserts—by diversifying offerings and enhancing cross-brand efficiency.
In addition, Balai entered an exclusive distributorship agreement with D’ Famous Red Box Corp. in the second half of the year, securing sole rights to distribute the iconic Polland Hopia brand in Cebu and Zamboanga. The move allows Balai to tap into high-demand regional markets with strong affinity for traditional Filipino delicacies, aligning with its strategy of localized growth.
Despite elevated raw material costs, Balai managed to improve its gross profit margin to 51.6 percent, up by 60 basis points from the previous year. The margin growth was attributed to a disciplined pricing strategy and a shift toward higher-margin products.
Balai’s performance underscores its growing importance within Fruitas Holdings’ portfolio and signals its continued ascent in the competitive Philippine foodservice sector.
