Balai ni Fruitas posts 77% profit growth

Balai ni Fruitas Inc., the listed bakery operator, reported a net income of P41 million in the nine months to September, up by 77 percent from P23 million from a year ago

- IRIS GONZALES

Revenue during the period rose by 65 percent to P387 million from P234 million the previous year.

In the third quarter alone, net income nearly doubled to P16.3 million from P8.5 million in the same period last year. Revenue rose by 55 percent to P138 million from P89 million, fueled by the continuous store network expansion and improved retail performance, the company said in a regulatory filing.