San Miguel Pure Foods Company Sustains Growth in Q1

May 07, 2014

San Miguel Pure Foods Company Inc. (SMPFC), the food subsidiary of diversified conglomerate San Miguel Corporation, reported strong first quarter results on the back of higher volume, better selling prices, and improved efficiencies.

SMPFC's consolidated revenues for the first three months of the year reached P24.2 billion, a 5% increase over the same period last year while first quarter net income attributable to equity holders of the Parent company surged 24% to P870 million. The company is confident it can sustain this growth momentum.

Its Commodity businesses posted 9& revenue growth compared to the same period in 2013, on account of higher volume and better selling prices. Exclusive retail outlets contributed to the volume growth of the segment.

The branded Value-Added Businesses, which carry SMPFC’s core brands Purefoods, Tender Juicy, Magnolia, and San Mig Coffee, generated a combined revenue growth of 4%, mainly driven by the Magnolia Dairy, Fats and Oils and Coffee segments, which posted double-digit growth.

Meanwhile, its international business in Indonesia sustained its recovery with the introduction of new products. The export business also showed continuous growth with the expansion to new territories and markets.