FRUITAS Holdings Inc. incurred a P12.3-million consolidated net loss in the first six months, a turnaround from its P52-million profit last year. Fruitas’ first half revenues also declined by 51 percent to P462 million from P941 million in the same period last year. “The sales decline for the second quarter of 2020 was unprecedented as we had to suspend operation of almost all of our stores because of the quarantine. The company added that it recorded a net loss of P27.4 million in the second quarter alone. We also continue to pivot our business model to derive more contribution from delivery and community stores,” Yu assured.

Source: Manila Times August 17, 2020 16:30 UTC