Fruitas Holdings, led by kiosk king Lester Yu, reported an over 50 percent surge in earnings during the first three quarters of the year to P26.7 million.
The company sustained strong top-line growth, with revenues for the nine-month period soaring 42 percent to P1.8 billion.
In the third quarter, Fruitas’ earnings nearly doubled to P26.7 million, driven by a 38.6% jump in revenues to P649.8 million.
The company attributed its consistent profit and margins to improved retail performance, economies of scale, and vigilant monitoring and control of expenses.
“With a strong third-quarter finish, House of Fruitas is well-positioned for sustained success in 2023’s last quarter. 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,” Yu said.
As of the end of October, Fruitas had a total of 826 stores in its network.
The company outlined plans to uphold a shrewd and methodical approach to expansion while maintaining the current pace of network development.