Splash sees more than 5-fold jump in 2010 earnings

MANILA, Philippines - Splash Corp., the leading local manufacturer of beauty and personal care products, is looking to end the year with a more than five-fold increase in net earnings and a 15-percent growth in sales revenues on the back of new product launches and successful cost-containment measures.

“We are confident that we will deliver our full-year performance target of 450- percent increase in net income. We attribute this to efficient use of plant assets, tighter control on expenses, launch of our new products like Hygienix and Skinwhite Teens Lotion and the strong performance of our three business segments — domestic, international and direct selling,” said company, president and chief operating officer Eric Domagas.

Splash posted a net profit of P23.73 million last year on revenues of P2.71 billion.

“Our performance in 2009 was affected by the global economic downturn and some internal issues but we have bounced back and are confident that the company will continue to post double digit growth through to next year,” Domagas said.

He said the group’s direct selling business will expand to 11 full-blown branches and 26 independent centers run by dealers by the first quarter next year.

He also pointed out that the recently launched Skin White Naturals Papaya Milk has been very well received by the public and has exceeded expectations. The product, a market first, combines the known whitening ingredients of papaya and moisturizing properties of milk.

The new product launch, coupled with the strong performance of the different lines under the Skin White brand, has helped it to maintain its position as the top whitening brand in the country.

Splash chairman Rolando Hortaleza said the group is hoping to take advantage of opportunities in the international markets as it set up new offices in Kuala Lumpur in Malaysia, Ho Chi Minh City in Vietnam and in Africa.

 “These newly established offices bring us several steps closer to our target market and enable us to influence our local consumers directly. It is very significant to note that Splash products are now catering to and patronized by the local/mainstream market and not purely by overseas Filipinos,” Hortaleza said.

Splash, which started with a capital of only P12,000 in 1985, has since grown into a billion-peso company.