Personal care product and food producer Splash Corp. grew its net profit in the first nine months by 80 percent year-on-year to P40.9 million, aided by the growth in overseas food business.
Operating profit in the first three quarters increased by 72.6 percent while operating expenses slipped by 2.8 percent, boosting the bottomline level, the company said in a press statement.
Sales revenue for the nine-month period amounted to P2.57 billion, up by 2.8 percent year-on-year. The growth was fueled by the 37-percent expansion in the food business, mainly from its international operation while the personal care segments rose by 8.4 percent year-on-year.
The company said the international segment of Splash Foods Corp. (SFC) continued to benefit from its expanded distribution network in North America, Middle East, Europe, and Australia and the broader product range of Barrio Fiesta Mixes being distributed in the USA.
SFC president Ace Villa-Real said: “SFC is focusing on the international market particularly in areas where there are large concentrations of Filipinos due to the strong growth prospect in these markets. Barrio Fiesta shrimp paste and easy-to-use mixes affords overseas Filipinos a convenient way to have an authentic taste of home.” Doris C. Dumlao