Bilyonaryo - Food & Nature

Lester Yu’s Fruitas turns a profit after 2 years of losses, surpasses pre-pandemic revenues

May 2, 2023

Bilyonaryo.com

Fruitas Holdings, owned by food kiosk magnate Lester Yu, swung to profitability in 2022 after two years of losses.

The company recorded a net income of P77 million, reversing the net losses of P16 million in 2021 and P48 million in 2020.

Fruitas attributed its revenue increase to strong same-store sales growth, which drove a 63 percent jump in its top line to P1.80 billion.

Despite having just over 770 stores as of end-2022, compared to more than 1,000 stores as of end-2019, the company was able to achieve 92.5 percent of 2019 pre-pandemic revenues.

With over 25 brands in its portfolio, Fruitas aims to achieve growth targets by investing in its recent acquisitions, Balai Pandesal and Ling Nam.

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