Fruitas sets ₧500-M capex, revives expansion plans

By VG Cabuag @villygc

Fruitas President and Ceo Lester Yu said the company is investing P100 million for the opening of 100 additional stores this year, P150 million for the expansion of its commissary, and up to P200 million for acquisitions and development of new concepts. “We expect to keep putting in strong performances in the upcoming quarters through a combination of organic growth and contribution from recent acquisitions,” he said.

“To promote sustainable growth and profitability, we will continue to invest in our brands, channels, customers, and employees. The company is also in various stages of discussion with additional prospective targets which fit our portfolio.”

The firm aims to grow its net income by 30 percent this year after tripling profits to P19.2 million in the first quarter from last year’s P6.4 million.

Fruitas said it expects to further boost its topline and bottomline with the addition of the Ling nam brand to its portfolio.

As of end-March, Fruitas had a network of more than 800 stores, and has added about 10 additional locations since then.

The group has identified a number of areas for the expansion of its network both inside and outside of Metro Manila, one of which is the recently announced Ling nam res-