FRUITAS EYES STRONG REBOUND

Listed Fruitas Holdings, Inc. eyes a strong rebound in 2021, building on the momentum in the fourth quarter of 2020 which increased by about 60% compared to the third quarter of 2020, after registering 90% quarter-on-quarter revenue growth in the third quarter of 2020.

In a disclosure to the Philippine Stock EXchange,Fruitas said it targets to add at least 100 kiosks and 70 community stores to its network in 2021.

This will boost Fruitas’ network to about 1,100 kiosks and 100 community stores by the end of 2021.

The increase in kiosks will come from both additional locations for its existing brands and new kiosks for its emerging concepts.

Fruitas will expand community stores beyond Metro Manila to include key cities in Luzon, Visayas and Mindanao. Fruitas expects to launch at least two new concepts as early as the first quarter of 2021. The company said it is in discussions with potential product partners to onboard additional items to sell through its network and distribution partners to widen the sales channels of Fruitas products.

The enhancement of its delivery channel continues, with plans to expand delivery beyond Metro Manila and Cebu in the near-term.

Certain community stores will formally be designated as delivery hubs to shorten turnaround time. Fruitas has set a 2021 capex budget of Php 240 million to Php 270 million, with Php 150 million allocated for network expansion, Php 70 million to Php 100 million for acquisitions and development of new concepts and Php 20 million allocated for commissary expansion.

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