Fruitas Holdings, Inc. Reports Record-Breaking Sales of P1.4 Billion in H1-2024; Net Income Surges by Nearly 50%

Fruitas Holdings, Inc., the leading operator of multi-format food and beverage stores, listed on the Philippine Stock Exchange under the symbol FRUIT, reported record-breaking financial results for the first half of 2024. The company achieved significant sales momentum and margin expansion, with revenues rising by 21% to P1.4 billion, up from P1.1 billion in H1-2023. This is attributed to broad-based growth of key businesses, including Fruitas beverages, Balai Pandesal, and Ling Nam.

FRUIT also experienced a modest increase in gross margin, improving from 59.0% in H1-2023 to 59.6% in H1-2024, with a focus on higher-margin products. EBITDA surged by 31% to P207 million in H1-2024, compared to P159 million in the same period last year. EBITDA margin increased from 14.0% in H1-2023 to 15.0% in H1-2024, driven by strategic pricing and leveraging economies of scale. Pre-tax income saw a remarkable growth of 62%, reaching P91 million in H1-2024, up from P56 million in H1-2023.

​The Group anticipates to accelerate its sales in the coming quarters with plans to further diversify House of Fruitas’ product lineup. Meanwhile, capital expenditures will be geared towards increasing capacity for the Group’s key businesses, while keeping tight cost control.

By the end of June 2024, FRUIT's network expanded to 834 stores. The Group projects the addition of at least 20 more locations in the final two quarters of the year.

“Our performance in the first half of 2024 is testament to the Group’s ability to seize high-value opportunities across our diverse portfolio. 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,” remarked Mr. Lester C. Yu, President and Chief Executive Officer of Fruitas Holdings Inc.

​Fruitas Holdings Inc., listed on the Philippine Stock Exchange under the symbol FRUIT, is the leading operator of small-footprint food and beverage retail stores in the Philippines. From a single Fruitas stall opened in 2002, the group now operates over 25 brands in its portfolio, which includes well-loved food concepts Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, The Mango Farm, 7,107 Halo Halo Islands, Tea Rex, Kuxina, SHOU La Mien Hand-Pulled Noodles, and Sabroso Lechon. It recently launched Fruitas dairy-based ice cream and the Soy & Bean soy product line, including Soy & Bean soy-based ice cream, and is opening a number of Babot’s Farm,Soy & Bean and Balai Pandesal community stores. Certain Fruitas products are available for delivery in Metro Manila through CocoDelivery, accessible by reaching 0961 309 0909 via Viber, dialing the following numbers: (02) 8330 2889 (PLDT), 0961 308 0808 (Smart), and through babotsmart.com, and in Metro Cebu.