The company, who food cart brands include Buko Loco and De Original Jamaican Pattíe Shop and Juice Bar, saw consolidated net income surge almost 50 percent to P65 million.
Its earnings before interest, taxes, depreciation and amortization up 31 percent to P207 million, reflecting higher-margin products and strategic pricing.
The company’s gross margin improved slightly to 59.6 percent, while pre-tax income jumped 62 percent to P91 million, highlighting its focus on efficiency and scale.
Management’s view
“Our performance in the first half of 2024 is testament to the Group’s ability to seize high-value
opportunities across our diverse portfolio,” said Lester Yu, president and CEO of Fruitas Holdings.
“Despite continued challenges, we have consistently achieved rising profits and increased margins. In the coming quarters, we intend to prepare for the future by increasing capacity to sustain our growth,” he added.
What’s next?
Fruitas plans to boost sales further by diversifying its product lineup and expanding its store network, which grew to 834 locations by June 2024.
It expects to open at least 20 more stores by year-end while maintaining tight cost controls.
