Fruitas Holdings of food kiosk king Lester Yu has delivered an impressive performance in the first quarter of 2023, with earnings expanding threefold to P19.2 million.
The company registered P515 million in revenues for the period, marking a 56 percent surge compared to the first quarter of 2022.
Fruitas’ revenue also surpassed pre-pandemic levels from 2019 by 22 percent, reflecting its ability to adapt and thrive in challenging market conditions.
To further fortify its financial position, Fruitas has set its sights on expanding its topline and bottomline through the strategic addition of the Ling Nam brand to its portfolio. This move into the Asian casual dining space is seen as a pivotal step in diversifying the company’s revenue streams and tapping into a wider consumer base.
Yu, the driving force behind Fruitas, remains optimistic about the company’s performance in the quarters ahead.
He emphasized a growth strategy built on a combination of organic expansion and contributions from recent acquisitions.
With an extensive network of 800 stores as of end-March, Fruitas has identified multiple avenues for network expansion, both within and outside of Metro Manila.
Yu highlighted the company’s commitment to investing in its brands, channels, customers, and employees to promote sustainable growth and profitability.
Moreover, Fruitas is actively engaged in discussions with additional prospective targets that align with its strategic portfolio.
This signals the company’s intention to continuously explore new opportunities and expand its presence in the market.
