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Balai ni Fruitas said it closed 2022 with a profit of P37 million, up 336 percent from P8.5 million last year.
Revenues reached P341 million, 129 percent up from P149 million the prior year.
The company said the growth was driven by store network expansion, to 98 from 77, and sales improvement in existing stores.
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Net margin nearly doubled at 11 percent compared to 6 percent the prior year. Earnings before interest tax depreciation and amortization (EBIDTA) hit P69 million for an EBITDA margin of 20 percent.
Lester Yu, Balai chief executive officer, said the company Balai aims to maintain its growth trajectory by broadening its product selection, and making investments in new markets and technologies.
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