Revenues during the period also grew 57 percent to P535 million, a stock exchange filing showed on Thursday.
“2023 marked significant milestones for BALAI as we passed 100 stores and the half-billion
peso revenue level,” Yu said.
“We continue to maximize shareholder value by expanding intelligently and controlling our costs. We responded to the pandemic by acquiring Balai Pandesal and rolling out community stores and we are glad that this strategy paid off,” he added.
The bakery leader expanded its reach, adding 20 new stores for a total of 118, boosting its presence in the food service sector.
Strategic moves, including product diversification and enhanced e-commerce efforts, contributed to its success. Balai ni Fruitas outperformed peers with its robust growth, establishing itself as a standout in the Philippine Stock Exchange-listed food service companies.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
