Listed food and beverage kiosk operator Fruitas Holdings Inc. set out a medium-term plan to aggressively expand its financial footing in the next five years.
Fruitas, on Monday, bared plans to raise an annual P5 billion revenue and P500 million net income by 2025.
Under its five-year plan, Fruitas will expand its network to at least 2,000 locations to register average annual revenue growth of around 30 to 40 percent.
“We are confident that we will be able to achieve or even exceed our medium-term targets. We have encountered similar challenges in the past and have overcome them by relying on our strengths,” Fruitas president and chief executive officer Lester Yu said.
“We continue to be mindful of near-term risks and fast-evolving client preferences. But we remain nimble to adjust our business model and take advantage of opportunities,” he added.
Fruitas intends to mirror the revenue growth trajectory from 2015 to 2019 when it grew revenues from P310 million in 2015 to P1.95 billion in 2019.
The company also targets to augment net margin from around six percent in 2019 to 10 percent by 2025.
Last year, Fruitas signed a deal to acquire two new food brands —The Tofu Store and Filipino cuisine stall operator Kuxina.
Fruitas acquired 100 percent of the outstanding shares of SoyKingdom Inc., the privately-held corporation carrying The Tofu Store brand and specializing in soybean-related products.
The acquisition of Kuxina, on the other hand, was made through Fruitas’ subsidiary, Negril Trading Inc., operator of De Original Jamaican Pattie Shop and Juice Bar.