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RFM’s First Quarter Income Up 8% to P179 Million

Food and beverage company RFM Corporation reported yesterday a net income of P179.4 Million for the first quarter of 2015, higher by 8% over the same period last year. This was achieved on the back of P2.6 Billion in sales revenues, up by 15% over the revenues posted for the same period last year.

RFM President and CEO Jose A. Concepcion III said that sales came in strong especially for Selecta ice cream, Fiesta and the new Royal pasta, even for the first quarter which is usually a lean quarter. Other groups also showed encouraging volume growth like White King cake mixes and Selecta Milk. Operationally, we were able to address certain distribution and logistics concerns, resulting to improved placements and trade servicing.

Concepcion added however that “we are still temporarily affected by higher warehousing and trucking costs as a result of external issues related to port and trucking franchise and rates. But we see these costs already starting to go down as we rationalize our supply and distribution system to sustain the growth momentum in sales and profits.”

RFM expects to have a more managed costs moving forward as it also gears up for a stronger growth momentum in the peak summer months for ice cream and pasta and as it pushes for more product innovations that will excite further the consumers.

 

 
RFM 2013 Income Up 18% To P805 Million

RFM President and CEO Jose A. Concepcion III attributed the income growth to  better margins in its core businesses, higher sales of higher-margin products, as well as reduced overhead expenses. “The lower commodity input costs in the early part of the year and managed operating expenses helped in bringing our cost levels down“, he said.

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RFM Acquires Royal Pasta Business

Food and beverage company RFM Corporation reported yesterday that it finalized the purchase of the Royal pasta brand from the Unilever Group. The transaction was valued at around $48 million or over P2 Billion, which covers mainly the Royal brand and inventories.

RFM President and CEO Jose A. Concepcion III said that the acquisition of the Royal brand, which is the number 2 pasta brand, would allow RFM to tighten its market leadership in the pasta category, since RFM currently also owns Fiesta, the number 1 pasta brand in the market today with around 35% market share. Royal and Fiesta combined will bring total market leadership to over 50% share of the pasta category.

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RFM Clarifies Swift Ownership

Disclosure is being made to clarify that Swift Foods Inc. (SFI), the listed company which is into poultry production and processing, is not a subsidiary of RFM Corporation. RFM does not have any significant holdings in SFI.  All RFM holdings of SFI shares have been given out as property dividends to RFM shareholders, thus making SFI directly owned by the public and no longer by RFM. The move was undertaken in line with the direction of RFM to focus on its branded products in fast-moving consumer categories.

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Robust RFM First 9-month Income, Up 19% To P525 Million

Food and beverage company RFM Corporation reported yesterday that it posted P525 million in net income for the first nine months of the year, up by 19% from P441 million for the same period last year. In a disclosure to the PSE, the company also reported sales revenue of P7.1 billion for the first nine months. This was around 9% lower than last year’s P7.8 billion, primarily due to its disposal of the meat business late last year, as well as lesser selling days due to more frequent storms and floodings this year.

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