Fruitas Holdings Inc. is looking to spend around P500 million this year to fund expansion plans, said Lester Yu, Fruitas president.
Yu said P100 million will be spent for the opening of 100 additional stores; P150 million to the expansion of its commissary, and the rest for acquisitions and development of new concepts.
Yu said Fruitas intends to grow profit by 30 percent this year.
Yu said Ling Nam restaurant in Zamboanga will open in the third quarter of 2023. Fruitas completed the purchased of Ling Nam early in March and expects the brand to further boost its topline and bottomline.
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