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Friday, March 29, 2024

Fruitas eyes P500-m net profit in five years

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Fruitas Holdings Inc., the country’s leading food and beverage kiosk operator, said Monday it expects net income to reach P500 million and revenues to hit P5 billion over the next five years on aggressive store rollout.

Fruitas said in a disclosure to the stock exchange net income and revenues would likely post a strong rebound in 2021. The company aims to register a compounded annual revenue growth of 30 percent to 40 percent up to 2025. It also aims to increase net margin to 10 percent by 2025 from around 6 percent in 2019.

The company said to achieve the five-year plan, it would double the store network to 2,000. For this year, the group targets to put up 100 new kiosks and 70 community stores.

It also earmarked capital expenditures of P270 million for store expansion, acquisitions and development of new concepts.

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