MANILA, Philippines—Beverage maker Pepsi-Cola Products Philippines Inc. (PCPPI)’s first-quarter net profit dropped by 49.6 percent year on year to P136 million on intense price competition, higher debt servicing due to investments in advanced containers and adverse effects of Super Typhoon Yolanda.
PCPPI reported, however, that it continued its growth momentum as sales increased by 11 percent in the first quarter versus the same period last year.
Sales revenue reached P6.4 billion for the quarter driven by volume growth across major carbonated and noncarbonated beverage brands, 8 percent higher year on year.
“This achievement marks another quarter of remarkable volume growth considering that the carbonated soft drinks industry declined within this period. We were also faced with a very competitive pricing environment across the country,” said Imran Moid, PCPPI chief finance officer.
The company said its topline growth was backed by PCPPI’s continued focus on building distribution capacity and investing in manufacturing, marketing and distribution assets such as trucks, coolers, vending machines and containers.—Doris C. Dumlao