Connect with us

Hi, what are you looking for?

Economy

Fruitas Holdings announces opening of its first franchised store in Dubai shopping mall

FOOD AND BEVERAGE kiosk operator Fruitas Holdings, Inc. has opened its first franchised store in Dubai under the House of Desserts brand.

In a stock exchange disclosure on Wednesday, the company said its first overseas kiosk is located inside BurJuman, a prime shopping mall in Dubai, and offers several products such as fruit shakes, pearl shakes, milk tea, fresh fruit desserts, halo-halo, and fresh lemonades.

“We are excited to bring Fruitas to Dubai. The Fruitas brand, with its suite of fresh and healthy products, is universal and exportable to a lot more territories outside the Philippines,” Fruitas President Lester C. Yu said.

Fruitas also announced that back home, it has 60 new kiosks and community stores in the pipeline as part of its domestic expansion plans moving forward.

“Fruitas continues to reach more cities in Mindanao, having recently opened its first kiosk in Koronadal and adding more kiosks in Butuan and Zamboanga City,” the disclosure said.

Meanwhile, the expansion of the company’s community stores under the Babot’s Farm and Soy & Bean brands is targeted to reach at least 30 stores by the end of the year and around 100 stores in 2021.

Fruitas trimmed its net loss to P19 million in the third quarter of the year due to better consolidated revenues and lower operating expenses.

Compared to the previous quarter, the company said its consolidated revenues rose 90% to P167 million, while its operating expenses excluding depreciation and amortization fell 56% to P102 million.

From January to September, Fruitas posted a net loss of P32.2 million against a net income of P53 million in the same period in 2019.

Shares of Fruitas in the stock exchange fell 1.30% or two centavos to end at P1.52 per piece on Wednesday. — Revin Mikhael D. Ochave

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Loxon Philippines, Inc. (LPI), one of the country’s leading specialty engineering contractors of fully integrated building management systems for the protection of life and...

Economy

MORE than half of students in the Philippines consider temporarily dropping out of school until the coronavirus pandemic ends mainly due to difficulties in...

Economy

The Public Works department has ramped up the completion of projects such as the Sta. Monica-Lawton Bridge also known as the Kalayaan Bridge. —...

Economy

THE BUREAU of the Treasury (BTr) raised its planned borrowings from the local market to P235 billion in July, as it seeks to offer...

Economy

By Jenina P. Ibañez, Reporter MANILA is the 78th most expensive city for expatriates to live in according to Mercer’s 2021 Cost of Living...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!