RFM embarked on thorough product R & D and market research, as it re-strengthened the market positioning of brands with evidently enormous potentials.
With full, clear-sighted confidence, we expect these to become our market leaders. RFM Corporation believes that building brands for today is the surest way to build the business for tomorrow. |
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| RFM 1st-Half Income Rises to P135 M |
| Monday, August 10, 2009 |
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Food and beverage firm RFM Corporation reached P134.5 million in net income for the first half of 2009, recovering from a slow start in the first quarter and even overtaking its P132.6 million net income for the same period last year.
In a disclosure to the Securities and Exchange Commission, RFM reported net income for the second quarter of P154.2 million, an increase of 142 per cent over that of the second quarter of 2008, and a complete turn-around from the loss of P19.6 million earlier in the first quarter this year.
RFM also continued to buck the current economic slowdown by growing sales at a robust rate of 22 per cent for the first half of 2009, registering net sales of P3.85 billion, compared to P3.16 billion in 2008.
RFM President and CEO Joey Concepcion said the improvement in results was expected, and would continue for the balance year as major raw material prices soften from their high levels late last year and early this year.
He also expressed confidence that RFM sales would continue to grow well ahead of market growth, despite the reported weakness in the consumer market, as the company "leads the way in offering higher value-for-money food and beverage alternatives to the consumer".
"For example, our Fiesta spaghetti is now No. 1 in the market based on retail audits because of its strong value proposition to Filipino consumers," Concepcion said. He said the Fiesta brand is now the company's second market leader, after the Selecta brand which has been dominating the Philippine ice cream market with a 54 per cent market share.
"The good-value Swift meat and Selecta milk products have also registered high double-digit sales growth with stronger consumer pull and deeper distribution penetration", Concepcion added.
He also expressed optimism in the growth performance of Vitwater, or water with vitamins and benefits, which was recently launched as a first-mover in the vitamin-enriched water category, and endorsed by people's champ Manny Pacquiao. |
