Balai off to a hot start with higher income

MANILA, Philippines — Listed bakery operator Balai ni Fruitas Inc. is off to a hot start in 2024, with net income surging by 38 percent to P13.2 million in the first quarter.

Revenues generated from January to March accelerated by 27 percent to P145 million from P114 million in the same quarter in 2023.

Balai Pandesal continued to have the fastest same store sales growth among the company’s brands.

Balai said it likewise sustained its push for e-commerce to further increase revenues.

“With the robust performance we have achieved in the first quarter, we continue to strengthen our position in the market,” Balai president and CEO Lester Yu said.

Yu said the recent addition of Sugarhouse to the group further underscores their commitment to enhance Balai’s product portfolio.

Aside from broadening portfolio, particularly in the cake category, Balai also expects to reach a wider customer base through Sugarhouse, a renowned brand with a four-decade legacy in the baked goods industry.

Balai ended the first quarter with a store network 121 stores nationwide.

The company continued to widen its portfolio by offering higher-margin products.

“As we continue to implement our strategic initiatives in the coming quarters, Balai remains poised to sustain its growth,” Yu said.

Balai’s brands include Balai Pandesal, Buko ni Fruitas and Fruitas House of Desserts.

The company started its operations in August 2005 when it opened its first Buko ni Fruitas kiosk in Robinsons Place Manila serving fresh coconut-based beverages and desserts.