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. |
| |
 |
| |
| RFM Declares P50 Million Cash Dividend on 50th Year |
| Wednesday, June 25, 2008 |
| |
Food and beverage company RFM Corporation (RFM) yesterday declared a cash dividend of P50 million as part of its ongoing celebration of its 50th anniversary.
In the company's annual stockholders meeting held yesterday, RFM President and CEO Jose A. Concepcion III announced that "the RFM Board of Directors approved the declaration of a P50 million cash dividend as a gesture of thanks to its stockholders, in line with the company's golden anniversary celebration".
Concepcion also expressed optimism and confidence in the renewal of the company's corporate life as he outlined RFM's new investments in plant facilities and equipment amounting to about P800 million.
"RFM is expanding its manufacturing facilities, specifically in PET bottleblowing and filling lines for the newly launched Sunkist Iced Tea, Hi-Juice products and Vitwater (the first vitamin water produced in the country)," Concepcion said.
He added that RFM is currently "constructing a new pasta-making plant to service the growing demand for its Fiesta pasta products, which is now a strong number 2 in the market due to its consistently good quality and affordability in pricing."
"We have also started to reinvest in upgrading our Cabuyao meat processing and cold storage facilities, as we aim to cut down further our production and logistics cost, while at the same time ensure better consistency in quality. This is very timely as the entire manufacturing industry is faced with increasing costs of raw materials and freight", Concepcion said.
The stockholders' meeting also approved the declaration of property dividends in the form of the company's shares in its real estate and property development subsidiary, Philippine Townships, Inc. (Philtown).
As a result, Philtown will no longer be consolidated into the food and beverage company's financials but will be majority owned directly by the stockholders.
Meanwhile, RFM Executive Vice President and COO Felicisimo Nacino, Jr. presented during the meeting the operating performance and plans of the RFM group.
Nacino said that "RFM consistently grew in net sales for the last 3 years, reaching P7 Billion in 2007. Likewise, net income posted positive level 3 years in a row, reaching a high of P234 million in 2007."
RFM's strong performance was also attributed to its flour division which has exhibited healthy growth despite the serious wheat market situation due to better plant efficiencies and cost management.
RFM recently reported its first quarter results, where it posted a net income of P67.3 million, or an increase of 7.6% over the P62.6 million achieved for the same period last year. |
