Pepsi PH unit 9-month profit surges 208% to P696-M
MANILA, Philippines — The Philippine unit of global beverage-maker Pepsi-Cola bucked the trend of heavy monsoon rain, denting financial performance in July-to-September quarter.
In a press statement on Sunday, November 11, Pepsi-Cola Products Philippines Inc. reported that its net profit in the first 9 months of 2012 surged 208.3% to P696 million.
In the dreaded 3rd quarter, net income posted a 1% growth to P119.33 million amid an adverse season.
“The third quarter of the year is typically a difficult period for the beverage industry due to seasonality. This year, it was further compounded by the heavy rains in July and August. Our notable achievements across brands and categories were driven by a better-than-expected performance in carbonated softdrinks, particularly in the cola segment,” PCPPI president Partho Chakrabarti said.
“With our top-line growth continuing to outperform industry growth for yet another quarter, we are poised to significantly exceed our full-year targets,” Chakrabarti said.
Average sugar price contributed to the 27% drop in the "cost of sales," which includes and packaging materials expenses, direct labor cost and manufacturing overhead.
The company cited the the 6.5% increase in gross sales to P5.24 billion--a performance the Pepsi officials attribute to strategic investments made in the first 6 months of 2012. - Rappler.com