Fruitas Holdings, Inc., the Philippines’ leading food and beverage kiosk operator, is setting its five-year targets with the aim of hitting annual revenues of P5 billion and net income of P500 million on or before 2025.
In a disclosure to the Philippine Stock Exchange, the firm said this will be achieved by expanding its network to at least 2,000 locations nationwide. It also aims to increase net margin from around 6 percent in 2019 to 10 percent by 2025.
Fruitas said it expects a strong rebound in 2021, and targets to register average annual revenue growth of 30 percent to 40 percent thereafter up to 2025.
The firm intends to mirror the revenue growth trajectory from 2015 to 2019 when it grew revenues from P310 million in 2015 to P1.95 billion in 2019.
“We are confident that we will be able to achieve or even exceed our medium-term targets. We have encountered similar challenges in the past and have overcome them by relying on our strengths,” said Fruitas President and Chief Executive Officer Lester Yu.
He added that, “We continue to be mindful of near-term risks and fast-evolving client preferences. But we remain nimble to adjust our business model and take advantage of opportunities.”
Fruitas said its business plan is anchored on five key strategies which includes fortifying its leadership positions and seize leadership positions in other product segments where it is present.
It will also innovate on existing products, packaging, and accessing its clients to match evolving preferences.
The firm also plans to venture into both new products and geographical regions in a deliberate and disciplined manner while expanding its network of kiosks and community stores and forge partnerships to widen its distribution network.
Fruitas said it will also sharpen existing processes to increase margins.(James A. Loyola)