Balai Ni Fruitas Marks PHP59 Million Net Income In 2023

Balai Ni Fruitas Inc., a prominent trader of freshly baked goods and fruit-based beverages and desserts, reported attaining a net income of PHP59 million in 2023, up by 58 percent from PHP37 million in 2022 on the back of higher sales.

Balai highlighted that its revenues climbed to PHP535 million in 2023 from PHP341 million in 2022. I Photo: Fruitas Facebook

In its disclosure to the Philippine Stock Exchange (PSE), Balai highlighted that its revenues climbed to PHP535 million in 2023 from PHP341 million in 2022. It noted that the company remained strong despite the continuing challenges from inflation.

All three of its brands posted year-on-year same-store sales growth amid increased foot traffic in malls and food courts, the introduction of new products, and more repeat transactions from customers, the company said.

Balai Pandesal increased its sales by gaining more repeat transactions among customers in the communities where they are located, as it also introduced several new baked goods in its menu and widened the curated selection of third-party goods in its stores.

Buko ni Fruitas and Fruitas House of Desserts benefited from increased foot traffic in malls and food courts. The company also continued the expansion of its retail network, adding 20 stores in the year, to end 2023 with 118.

Balai stated that it outperformed all other food service firms listed on the PSE, in terms of both revenue growth and net income margin in 2023.

Mr. Lester Yu, President, and CEO of Balai, declared, “2023 marked significant milestones for Balai as we passed 100 stores and the half-billion peso revenue level... We believe we have also barely scratched the surface in terms of provincial expansion, and we have already started to build capacity to serve this market… I salute all of my Balai colleagues, including store crew and management, for this year’s strong financial results.”

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