THANKS TO the Magnum ice cream craze, Concepcion-led RFM Corporation saw its net income grow by 40% to P240.98 million in the first 5 months of the year.
Total sales for the January to March period grew by 10% to P4.32 billion. With strong profit and sales figures, the food and beverage company said it is on track to hit its full year target.
RFM President and CEO Jose A. Concepcion III said the company’s income growth is gaining momentum due to better margins from production. This was attributed to lower commodity costs in the second half of 2011 and company’s efforts to cut processing costs.
Concepcion said the economy has boosted consumer confidence and spending, helping RFM’s sales. He noted “practically all the company’s brands have been showing growth over last year, led by Selecta, our ice cream joint venture with Unilever, our White King Fiesta pasta, Selecta milk…
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