MANILA – Pepsi-Cola Products Philippines Inc on Friday said its net income nearly tripled last year on the back of high volume growth, lower sugar prices and stringent cost management.
In a statement, the beverage maker said its net income surged 192 percent to P844 million in 2012 from P289.05 million the year before after doubling its earnings to P147 million in the fourth quarter.
“On the back of this remarkable performance, we expect to improve further in 2013 with prudent cost management, increased marketing efforts and a generally positive economic environment. We will continue to innovate with brands that will satisfy the thirst-quenching needs of the Filipino consumers,” said Pepsi-Cola Philippines president Partho Chakrabarti.
Gross sales jumped 14 percent to P22.73 billion from P19.96 billion in 2011, supported by a 15 percent increase in sales volume across brands and categories.
“This is a significant feat given the aggressive competition, marketplace challenges and heavy monsoon rains. We focused on driving growth of both the carbonated and non-carbonated drinks segments, in line with the strategy on ensuring affordability and availability across the Philippines,” said Jika Dalupan, Pepsi-Cola Philippines vice president for corporate affairs and communications.
Cost of sales inched up 6 percent driven mainly by higher sales volume.
A licensed bottler of PepsiCo Inc and Pepsi Lipton International Ltd, the local unit manufactures beverages under brands such as Pepsi-Cola, 7Up, Mountain Dew, Mirinda, Mug, Gatorade, Lipton Iced Tea, Tropicana/Twister, Propel and Sting.
Pepsi-Cola recently made its foray into the powdered juice segment with Mirinda Powder Fun Mix.
source: interaksyon.com