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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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Stronger RFM First Half Income, Up 28% To P387 Million

Food and beverage company RFM Corporation reported in a disclosure yesterday to PSE that it posted a 28% growth in its net income for the first six months of the year, climbing up to P387 million, from P302 million in the same period last year.  This was on the back of around P4.77 billion sales revenue in the first six months, around 9% lower than last year’s P5.26 billion, primarily due to its disposal of the meat business late last year.

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RFM First Quarter Income Up 18% to P154 Million

Food and beverage company RFM Corporation reported in a disclosure yesterday to PSE that it posted an 18% growth in its net income for the first quarter of the year, reaching P153.7 million, and ahead of its internal target for the period. This was on the back of around P2.2 billion sales revenue in the first quarter, around 8% lower than last year’s P2.4 billion, primarily due to its disposal of the meat business late last year.

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