Food kiosk and restaurant entrepreneur Lester Yu is positive on growth for the year after listed Fruitas Holdings saw a 56 percent spike in first quarter 2024 profit to P29.8 million, held up by a robust profit margin of 59 percent.
The onset of the sizzling summer season lifted the company’s beverage sales, mostly located in airconditioned malls, apart from contributions from Ling Nam Restaurant, which opened six new stores during the period.
Revenues during the quarter rose 24 percent to P640 million, Fruitas said in a stock exchange filing.
“We are even more eager to face the succeeding quarters of this year, as we have numerous innovations and offerings planned for our cherished Filipino consumers,” said the Yu, the president and CEO of Fruitas.
Fruitas, which ended the period with 825 restaurants and kiosks, is also capitalizing on rising demand for online food delivery through its own platform, BalaiMart, and partnerships with aggregators like GrabFood and FoodPanda.
