This strong performance translated to a stable net margin of 11 percent, highlighting the company’s ability to maintain profitability despite economic challenges.
Revenues also grew to P487 million during the nine-month period, mainly from Balai Pandesal stores.
Management’s view
“This solid growth reflects the continued popularity of our flagship brand, Balai Pandesal, and the resilience of our business despite economic challenges,” said Lester Yu, president and CEO of Balai ni Fruitas.
“Our operational efficiency and strategic expansion, including the addition of Sugarhouse, position us for long-term success. As we move toward the end of 2024, we will remain committed to delivering value to our customers, employees, and shareholders as we continue to grow and strengthen our market presence,” he said.
Healthy profit margins
The company reported a 25 percent rise in gross profit to P240 million, maintaining a strong 49 percent gross margin despite higher raw material costs.
Improved operational efficiency boosted earnings before interest, taxes, depreciation, and amortization margin to 21 percent, up from 19 percent last year. Balai Pandesal’s popularity continues to drive strong demand, while the integration of Sugarhouse has diversified the product range.
As of Sept. 30, 2024, Balai ni Fruitas operated 131 stores, broadening its presence across the Philippine market.
