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RFM Pre-Terminates Long-Term Loans

Food and beverage company RFM Corporation disclosed yesterday that with stronger cashflow,  it is pre-terminating its remaining P252 Million long-term loan this week, following the earlier payment made last May on its long-term loan amounting to P280 Million.  

RFM President and CEO Jose A. Concepcion III said that “the stronger income performance in the first half of the year, plus faster collection of accounts receivables shored-up the cashflows, which allowed us to settle earlier our long-term loans.

This will bring down long term debt to zero, making RFM long term loan debt-free. If we factor in the short term loans, D/E ratio is only 5%.”   

RFM reported last week in its Annual Stockholders’ Meeting that their first six months’ net income increased by 11% to  P472 Million. At the operating profit level, RFM posted P665 Million income and an even higher growth rate of 17%.   

Concepcion also explained that “the income and cashflow grew faster as we sold more of the higher margin products and achieved better efficiencies with more managed warehousing costs”.  

Moving forward, the company does not expect big capital expenditures as it just recently expanded its plant capacities, particularly the pasta plant to accommodate the higher production requirements of the newly-acquired pasta brand Royal.   

RFM is reportedly gearing up for a stronger growth momentum in the second half  as it approaches the peak months of September to December and as the election period heats-up, driving higher consumption patterns like before.

 
RFM’s First Six Month Income Up 11% to P472 Million

Food and beverage company RFM Corporation reported today in its Annual Stockholders’ Meeting that their first six months’ net income increased by 11% to  P472 Million. At the operating profit level, growth posted an even higher rate of 17%. This was achieved on the back of P5.5 Billion in sales revenues, up by 10% over the revenues posted for the same period last year.

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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.

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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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