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MANLA - Pepsi-Cola Products Philippines Inc. reported a surge in earnings in the first semester driven by a double-digit growth in sales.
In a regulatory filing, PCCPI said its net income reached P352.65 million in the second quarter, up 365 percent from P75.79 million in the same three-month period last year.
This pushed net earnings in the first half by 436 percent to P577.50 million from the previous year’s P107.65 million.
Record volumes across the carbonated soft drinks and non-carbonated beverage segments lifted gross sales by 14 percent to P6.10 billion in the April to June period from P5.34 billion last year. Sales in the first half rose at a faster pace of 16 percent to hit P11.31 billion from P9.78 billion a year ago.
“This remarkable achievement was fuelled by outstanding performance across brands and categories, particularly in the cola segment where we registered strong growth,” said Partho Chakrabarti, president of PCCPI.
The company attributed its strong performance to easing costs of key raw and packaging materials costs, particularly sugar, the average price for which fell by 32 percent.
As percentage of net sales, cost of sales decreased by 8 percentage points compared to year ago levels.
“We are buoyed by the terrific response of our consumers to our product innovations such as Sting Power Pacq with Malunggay and Gatorade Low Carb. With our continued focus on delivering the needs of our consumers, we hope to sustain the momentum for the rest the year," Chakrabarti said.
The company expects to maintain higher profitability throughout 2012 from continued efforts to drive top-line growth, lower sugar prices, increased marketing efforts, cost controls and industry growth.
A licensed bottler of PepsiCo Inc. and Pepsi Lipton International Limited, PCPPI manufactures beverages under brands such as Pepsi-Cola, 7Up, Mountain Dew, Mirinda, Mug, Gatorade, Lipton Iced Tea, Tropicana/Twister, Propel and Sting.
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