Splash International president and chief operating officer Ed Patron said the company is well on track to hit its full-year goal of a 70-percent sales growth through a much stronger portfolio of products and markets.
Splash recently started to offer flavored VCO through its VCO Manila brand which initially comes in 500-ml jars.
The Splash Group has already penetrated 17 countries worldwide including a joint venture in Indonesia and distributorships in Malaysia, Vietnam, Singapore and the Middle East. It is also looking at penetrating North America, Australia and Europe.
It is now looking at various options aimed at delivering VCO Manila brands more efficiently.
"We are continuously searching for ways to make VCO Manila available in new markets at the best price possible even as we also evaluate capabilities of potential distributor-partners," Patron said.
Splash has trademark applications for over 20 countries worldwide for its VCO Manila brand.
Patron also noted that their SkinWhite soap continues to make waves in Indonesia where it now has a seven-percent share of the market.
He said SkinWhite’s initial gains in the Indonesian market is positive proof that "focusing on niche markets and building on proven efficacy and effectiveness" attract more consumers who are expected to become loyal users of Splash products.
Splash currently dominates the Philippines’ skin care business with its whitening products under the brandnames Extraderm, Maxipeel, SkinWhite and BioLink.
Each generates about P1 billion in sales.
Together, the four account for 80 percent of the group’s total revenues.
Since its inception in 1985, Splash’s mother company has become a P5-billion enterprise. It now has a total of 350 direct employees plus 1,000 in affiliated companies.
Splash is eyeing a 50-percent growth in net profit this year, mainly coming from new products’ sales. Net income is seen to reach P300 million this year compared with P200 million in 2005. Revenues are likewise projected to grow to P4.6 billion from P3.7 billion last year.
The group intends to continue to launch two new brands and five VCO products this year to capitalize on the strong demand for natural food products or "nutraceuticals", which provide medical or health benefits and reduce the risk of chronic diseases.
Currently in the market are Accuherb, a line of flavored VCO, and Theraherb for its herbal tea products, and dietary supplement capsules.
The group is focused on promoting health and wellness, and that it is committed to spend more for advertising and promotion of its products. Around P600 million has been budgeted for its marketing Initiatives.