Pepsi-Cola Products Philippines Inc. (PCPPI) delivers a competitive streak as the beverage manufacturer’s profit sales are by 5.1% in its third quarter.
The company listed P146.03M as its total net profit from July to September, an increase from the P138.94M year-to-year.
The company also garnered a total of P6.5B in net sales from January to September, a 7% increase from P6.12B of the same period in 2014. PCPPI’s earnings climbed a whopping 14.3% to P706.35M worth of higher sales from both carbonated and non-carbonated products as compared to the previous year’s P619.39M.
“Our year-to-date performance can be attributed to the Company’s strong focus on driving productivity and building revenues in a very challenging operating environment,” said PCPPI president Furqan Ahmed Syed in a financial statement filed with the Philippine Stock Exchange (PSE) on Tuesday.
“The quarter saw a sharp increase in sugar prices coupled with very challenging industry pricing. Despite that, we managed to grow our topline & bottomline for the quarter,” he said.
However, thanks to the company’s volume growth, higher depreciation and amortization from increased capital expenditures, PCPPI’s line of goods sold capped off a 9% total increase for both the third quarter and nine-month period.
“Our net income margin has expanded by 18 basis points year-to-date. This is a fruitful outcome of the company’s drive to foster efficiency in our operations,” Syed added.
Pepsi Philippines is soon to be venturing into the snack food business later this year, as part of ensuring its complementary taste with its original line of beverages. The beverage manufacturer promised to bring some of PepsiCo, Inc.’s signature snacks in the country including Cheetos, Lays, Ruffles, Tostitos, Doritos, Fritos and Walkers.
The PCPPI is home to flagship international brands and flavors of the original PepsiCo, Inc. and Pepsi Lipton International Limited distributed in the Philippines such as Pepsi-Cola, Mountain Dew, 7-Up, Mirinda, Mug, Gatorade, Tropicana, Lipton, Sting, Premier, Milkis, and Let’s Be.