MANILA -- Fruitas Holdings said it is looking to expand its reach and operations after its first quarter earnings beat pre-pandemic numbers.

According to Calvin Chua, the company's director and chief financial adviser, they are looking to add more brands and open 50 more stores in 2023.

"In terms of profitability, there's a number of headwinds still facing us, in terms of inflation, but you know, as these subside, we are confident that the base that we are starting from with increased productivity, efficiency would serve us well," he said.

"We are targetting at least 30 percent revenue growth this year, but we see further upside if our expansion plans can be implemented faster," he added.

Fruitas Holdings Inc said on Thursday it acquired the 3-year old Fly Kitchen Inc to expand its cloud kitchen business.

• Fruitas acquires startup, expands cloud kitchen venture

--ANC, 13 July 2023

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