Balai ni Fruitas Inc. reported income over six months rising 68 percent to P25 million from last year’s P15 million.
It claimed keeping the growth momentum after revenue grew 72 percent to P249 million from a year earlier of only P145 million.
The company said its improved financial performance was facilitated by the expansion of Balai Pandesal and the seasonally strong demand for its other brands.
“This accomplishment demonstrates our unwavering commitment to provide top-notch goods and services. In the second half of the year, we are eager to build on this momentum and keep exceeding expectations,” Lester Yu, Balai president and CEO, said.
The business plans to continue expanding its product line and invest in new markets and technologies to sustain its growth trajectory.
Company cash and cash equivalents increased to P290 million from P255 million as at end-2022, allowing the company to be more aggressive in its strategic initiatives by growing its store network and introducing new offerings. Its equity increased to P426 million from P409 million last year.
The business added 17 new stores in the first half this year and are now in 115 locations from 98 at end-2022.
The business now operates 64 Balai Pandesal outlets. The other are Buko ni Fruitas and Fruitas House of Desserts outlets.
With this network, customers can find Balai Pandesal items in over 20 additional community stores.
