Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

Fruitas cuts net loss to P8M


FRUITAS Holdings, Inc. trimmed its net loss by 60% in the third quarter to P8 million on the back of higher revenues, the listed food and beverage store operator said in a stock exchange disclosure on Monday.

Its third-quarter net loss is an improvement compared with the P19-million net loss it had in the same period last year.

The company’s revenue for the quarter rose 49% to P248 million while its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 497% to P24 million.

For the nine-month period, Fruitas reduced its net loss by 49% to P16 million.

“The company continued to introduce new product offerings and rationalize its operations, including permanent closure of unprofitable kiosks,” it said.

Revenue for the January-to-September period amounted to P772 million, higher by 23% compared with P629 million in 2020.

The company’s EBITDA also increased 103% to P93 million, while the monthly revenue contribution from its community stores reached 20%.

“Fruitas continued to expand its community store network, operating under the Babot’s Farm, Soy & Bean, and Balai Pandesal brands, and had 107 community stores as of Nov. 15, 2021. The group has already exceeded the initial target of 100 community stores by end-2021,” the company said.

Lester C. Yu, Fruitas president and chief executive officer, said the company continues to innovate through its community stores and online channels amid the coronavirus disease 2019 (COVID-19) pandemic.

“The food service industry has been challenged throughout the year due to the extended restrictions imposed during the pandemic,” Mr. Yu said.

“In the last quarter of the year, we are optimistic on the upcoming holiday season, the lifting of mobility restrictions, the declining number of COVID-19 cases, and the progress of the country’s vaccination program,” he added.

On Monday, shares of Fruitas at the stock exchange declined 3.79% or five centavos to end at P1.27 per share. — Revin Mikhael D. Ochave

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Editor's Pick

The Board of Investments (BoI) has cleared Sinoma Energy Conservation (Cebu) Waste Heat Recovery Co. Inc. to serve as the operator of a 4.5-megawatt...


In the wake of Covid-19, people are working harder than ever. While many of us thought productivity may dip when we started working from...


Few individuals can resist the temptation to try before they buy; therefore, it was only a matter of time until online casinos realized this...

Editor's Pick

REUTERS WASHINGTON – The chair of the U.S. Senate Commerce Committee on Wednesday asked a regulator to investigate whether Meta Platforms’ Facebook misled its...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Secrets Of Richdads. All Rights Reserved.