Balai ni Fruitas Inc., a leader in Philippine counter service bakery operators, posted a 336 percent rise in net income to P37 million last year from P8.5 million in 2021. In a disclosure to the Philippine Stock Exchange, the firm said it registered a strong financial performance in 2022 by increasing revenues 129 percent to P341 million in 2022 from P149 million in 2021. It said “The significant increase was a result of the company's expansion of its retail network from 77 as of the end of 2021 to 98 as of the end of 2022 and excellent same-store sales growth.” Net margin nearly doubled with BALAI recording 11 percent in 2022 compared to 6 percent in 2021. Despite inflationary pressures, gross profit margin for 2022 settled at 52 percent, an improvement over the 50 percent gross profit margin during the first half of 2022. EBITDA increased to Php68 million in 2022 while also improving EBITDA margin to 20 percent which is attributed to economies of scale. BALAI achieved significant revenue growth while continuing to manage its operating expenses. “This is an outstanding accomplishment for BALAI. Our dedication to providing outstanding products and excellent customer experience has made us stand out in the market and draw in new clients,” said BALAI President and CEO Lester Yu. He noted that, “BALAI's growth has already surpassed our initial estimates, and we aim to accelerate the growth even more by strategic store expansion, continuous product development, and curating third-party products to be made available through our platform.” In the future, BALAI wants to maintain its growth trajectory by broadening its product selection, and making investments in new markets and technologies. The company is committed to giving its clients and shareholders increased value through pursuing sustainable growth and improving business financials.