RFM: Better margins, managed costs buoy RFM tinyurl/FreeStockRecommendation LISTED food-and-beverage producer RFM Corp. saw profit grow by nearly a fifth annually as of September on better margins and cost management, the company said in a statement attached to a disclosure yesterday. Net income rose 19% to P525 million from P411 million, even as revenues fell 9% to P7.1 billion from P7.9 billion. RFM President and Chief Executive Officer Jose A. Concepcion III attributed income growth to improved margins and better cost management. “Lower commodity input costs and managed operating expenses this year helped in bringing our cost levels down, as well as enhanced our ability to pass on gains to higher value-added products in Selecta ice cream and Fiesta pasta,” Mr. Concepcion said in the statement. “Consumption spending was also felt in some categories, especially in our Sunkist beverage and Selecta milk. Fiesta pasta likewise posted growth relative to its category, which brought up further its market share to 35%, from 29% just a few months back.” RFM expects better performance as the Christmas season approaches, he added. -- CHCV bworldonline/content.php?section=Corporate&title=Better-margins,-managed-costs-buoy-RFM&id=79240
Posted on: Tue, 12 Nov 2013 02:30:00 +0000
Trending Topics
Recently Viewed Topics
© 2015