Fruitas Holdings Inc. said it registered a loss of P16 million for the first quarter of the year, a reversal from last year’s P15 million profit.
Sales reached P259 million, down 30 percent from last year’s P370 million. The company said this “is a significant improvement from the 54 percent revenue decline for the full year of 2020 compared to 2019,” and is a 1 percent improvement over the fourth quarter 2020’s P256 million.
“This was achieved despite the lack of seasonal uptick from the Christmas season, including lechon sales, in the first quarter of 2021. Sales contribution from additional community stores in the first quarter of 2021 compensated for continued softness in the sales from kiosks in certain parts of the country,” it said.
Earnings before interest tax depreciation and amortization stood at P15 million.
