Pepsi H1 profits soars 436% to P578M
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- Published on Tuesday, 31 July 2012 00:00
By A Web design Company
Pepsi-Cola Products Philippines, Inc. (PCPPI) said profit for the first half of the year reached P578 million, about five times higher than last year’s P107.65 million.
Gross sales reached P11.31 billion, 16 percent higher than last year’s P9.78 billion.
Partho Chakrabarti, PCPPI president attributed the surge in income to high cola sales and the reduction in key raw materials and packaging costs
As percentage of net sales, cost of sales decreased by 8 percentage points versus the same period last year, PCPPI said.
This resulted for PCPPI’s gross profit to reach P2.68 billion 60 percent higher than last year’s P1.68 billion.
PCPPI said it benefited from a 32 percent drop in the average price of sugar, resulting to a “huge” decline in cost of sales.
“Operating expense consists mainly of selling and distribution, general/administrative and marketing expenses, remained manageable due to company’s sustained efforts to control costs, with a negligible increase of .01 percentage point in Q2,” PCPPI also said.
“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
