Fruitas profit nearly doubles | The Manila Times

FOOD and beverage operator Fruitas Holdings Inc. said that its net income in the third quarter nearly doubled to P26.7 million from P13.9 million a year earlier.

“We are excited to take advantage of the growth opportunities presented by the upcoming quarter by offering pertinent products that will benefit our customers and stakeholders and establish the foundation for our vision to become a part of Filipinos’ everyday lives,” President and CEO Lester Yu said.

Revenues were said to have grown 38.6 percent to P649.8 million from P468.7 million.

Nine-month income reached P70.2 million, 62.3 percent higher from last year’s P43.3 million, as revenues rose by 42 percent to P1.8 billion from P1.3 billion.

“With a strong third-quarter finish, House of Fruitas is well-positioned for sustained success in 2023’s last quarter,” Yu said.

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As of the end of October, Fruitas had 826 stores with plans of further expanding its network.

On Monday, Fruitas Holdings’ share price fell by a centavo to P1.18.