BALAI nets P15M 1st half revenue

Balai ni Fruitas Inc. (BALAI), which recently debuted on the capital market, reported a P15 million net income in the first half of this year, surpassing its full-year 2021 net revenue of P9 million.

In a disclosure to the stock exchange on Monday, the company said it continues to ride on its growth momentum, primarily driven by its successful listing on the Philippine Stock Exchange.

BALAI likewise booked P145 million in revenues during the year’s first six months. It was almost equal to its full-year 2021 revenue level of P149 million.

“The 2022 first half performance is a testament to the ability of the company to face increasing raw material costs and still protect its margins. We shall continue to create new product offerings which will bring happiness to our customers,” BALAI president and CEO Lester Yu said.

The company said its listing last 30 June allowed it to “aggressively expand its store network and build new commissaries to have more efficient operations and leaner cost structure.”

In addition, BALAI is looking to further expand its portfolio through a mix of product brand introductions and potential acquisitions.

As of end-2021, BALAI had 77 stores in its network. From January to June, the company opened seven new stores bringing the total store network to 84.

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