Fruitas reports P515M in revenue in Q1 2023

FRUITAS Holdings Inc. reported P515 million in revenue and P19.2 million in net income during the first quarter of 2023.

Its first quarter 2023 revenue was 56 percent higher than the first quarter 2022 revenue and 22 percent better than the pre-pandemic first quarter 2019 level.

The company generated an Ebitda (earnings before interest, taxes, depreciation and amortization) of P74 million in the first quarter of 2023, up 40 percent from P53 million from the same period in 2022.

Fruitas saw its net income in the first three months of 2023 increase to P19.2 million, three times the P6.4 million net income in the first quarter of 2022. The company said it is expecting to further boost its topline and bottomline with the addition of the Ling Nam brand to its portfolio. (PR)