LISTED counter-service bakery operator Balai ni Fruitas, Inc. said its net income rose by 16% to P68 million last year from P59 million in 2023, driven by expansion efforts and higher revenue.
Revenue grew by 25% to P668 million from P535 million in 2023, supported by better same-store sales and retail expansion initiatives, Balai ni Fruitas said in a stock exchange disclosure on Monday.
The company ended 2024 with 132 stores nationwide across its four brands: 63 Balai Pandesal, 39 Buko ni Fruitas, 28 House of Desserts, and two Sugarhouse stores.
Gross profit increased by 26% to P345 million, while earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 24% to P134 million.
“2024 was a defining year for Balai ni Fruitas, marked by sustained growth, strategic milestones, and strengthened brand equity. We continued to deliver solid performance across our core brands — Balai Pandesal, Buko ni Fruitas, and House of Desserts — while successfully integrating the Sugarhouse brand into our portfolio, allowing us to enter the premium cake segment and expand our production capabilities,” Balai ni Fruitas President and Chief Executive Officer Lester C. Yu said.
“Our exclusive distributorship of Polland Hopia in Cebu and Zamboanga opened new doors for regional growth and synergies within our community-based stores,” he added.
Balai ni Fruitas completed its acquisition of the Sugarhouse brand and its operational assets in April last year, signaling the company’s foray into the premium cake category.
In the second half of last year, Balai ni Fruitas also secured the sole rights to distribute the Polland Hopia brand in Cebu and Zamboanga under an exclusive distributorship agreement with brand owner D’ Famous Red Box Corp. Under the deal, Polland Hopia products will be featured in Balai Pandesal stores.
Balai ni Fruitas is a 75%-owned subsidiary of listed food and beverage kiosk operator Fruitas Holdings Inc.
On Monday, Balai ni Fruitas shares were unchanged at P0.36 per share. — Revin Mikhael D. Ochave
