Fruitas ends Q2 with P7M net income

FRUITAS Holdings Inc. (Fruit) has returned to profitability in the second quarter of 2021 as it registered a net income of P7 million. Revenue further increased to P263 million in the second quarter of 2021 from P261 million in the first quarter of 2021.

Sales contribution from community stores in the second quarter this year already reached 15 percent in line with continued network expansion even as certain kiosks remained temporarily closed.

Fruit’s network included 67 community stores as of June 30 which has grown to 80 as of Aug. 15. This includes franchised Balai Pandesal stores, which came with the acquisition in June 2021, and new Balai Pandesal stores which were subsequently opened.

For the first half of 2021, revenue reached P524 million, 13 percent higher than the P462 million generated in the first half of 2020, but still 44 percent lower than the P941 million in the first half of 2019.

Despite the significant drop in total revenue versus pre-pandemic levels of 2019, Fruit’s average daily sales per store has already recovered to about 70 percent of pre-pandemic levels. (PR)

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