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Listed beverage maker Pepsi-Cola Products Philippines Inc. posted a hefty improvement in its first quarter performance due to strong sales.
In its financial report, Pepsi-Cola said its net income jumped 20 percent to P270 million in the first three months of the year. Gross revenues hit P6 billion, up 14 percent from a year ago.
“This significant achievement was driven by increasing distribution coverage with the intent of reaching more consumers from various consumer segments,” said Pepsi-Cola president Partho Chakrabarti.
“We also focused on product expansion and aggressive marketing programs, with equally supported investments in containers, coolers, vehicles and manufacturing,” he added.
The 18-percent growth in sales volume offset the 13-percent increase in cost of sales, which consists primarily of raw and packaging materials, direct labor and manufacturing overhead.
This allowed Pepsi-Cola to post a 14-percent gain in gross profit to P1.4 billion.
Operating expenses, which is composed of selling and distribution, general and administrative, and marketing expenses, jumped 12 percent in the first quarter.
Jika Dalupan, Pepsi-Cola’s vice-president for corporate affairs, said the top line growth helped fund strategic investments personnel, marketing campaigns, and sales and distribution infrastructure.
Pepsi- Cola is the exclusive bottler of PepsiCo beverages in the Philippines which include Pepsi-Cola, Mountain Dew, Seven Up, Mirinda, Gatorade, Tropicana, Mug, Lipton, Sting, and Premier.
Pepsi-Cola has joined the fray in the powdered drinks category through Mirinda Powder Fun Mix as it aims to strengthen its non-carbonated business.
In September, it launched Tropicana Coco Quench, which is 100 percent made from real coconut water. It will be available initially in the Philippines and later on to the rest of Asia as it seeks to expand its non-carbonated beverage segment.
Pepsi-Cola is partly owned by Lotte Chilsung, one of the biggest beverage companies in South Korea. The listed company has established manufacturing facilities across the country, serving at least 440,000 outlets and providing employment through its extensive distribution network.
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