Filipino-owned personal care and beauty product firm Splash Corp. said it is on track to meeting its full year income and revenue targets for 2007 due to higher sales from new product offerings.
Splash said for December alone, sales are estimated to reach P344.5 million, bringing full year gross sales to P3.59 billion or an increase of 17 percent from the previous level. This translates to net sales of P2.73 billion or 14 percent higher than the year ago figure.
Net earnings are likewise seen to grow 37 percent this year to P282 million.
Splash attributed its strong sales performance to its intensified sales and marketing strategy.
It noted that as of end-November, its Kolours and Biolink brands are growing at 58 percent and 43 percent, respectively, while the Extract brand has been posting a 152 percent growth rate. Maxipeel, Extraderm and SkinWhite brands are also growing at respectable single-digit rates.
The company launched last month “Baby Spa,” its initial foray into the baby product market.
For next year, Splash expects to introduce 21 new products.
Splash chairman and chief executive officer Rolando Hortaleza said this year’s performance provides the jump-off point for 2008 where the company will launch more innovative products, particularly in the fast-growing health and wellness category.
In addition, Splash will be executing a robust geographical expansion plan that would take advantage of the opportunities presented by the harmonization of the ASEAN regulations on cosmetics and market development programs for its health and wellness products in the lead global markets like North America, Europe, and Australia.