RFM profit in Q1 up 8% to P179M

MANILA, Philippines–Food and beverage company RFM Corp. yielded a net income of P179.4 million for the first quarter of 2015, 8 percent more than the income recorded in the same period last year.

This was achieved on the back of P2.6 billion in sales revenues, up by 15 percent from the revenues posted in the same period last year.

RFM CEO Jose A. Concepcion III said sales came in strong especially for Selecta ice cream, Fiesta and the new Royal pasta, even if the first quarter is usually a lean period.

Other units such as White King cake mixes and Selecta Milk also showed encouraging volume growth.

“Operationally, we were able to address certain distribution and logistics concerns, resulting in improved placements and trade servicing,” he said.

Concepcion added, however, that the company was “still temporarily affected by higher warehousing and trucking costs as a result of external issues related to port and trucking franchise and rates. But we see these costs already starting to go down as we rationalize our supply and distribution system to sustain the growth momentum in sales and profits.”