MANILA, Philippines - An increase in sales volume in the third quarter allowed beverage maker Pepsi-Cola Products Philippines Inc. (PCPPI) to post a double-digit growth in earnings.
In a statement, PCPPI said net income for the third quarter went up 13 percent to P139 million from P122.8 million in the same period last year.
PCPPI said the strong third quarter result was buoyed by a 17 percent year-on-year increase in volume growth and 19 percent growth in gross sales.
“We are pleased to have sustained our strong growth momentum in quarter three. This was achieved by bringing in more exciting consumer offerings for our Filipino consumers, building our distribution footprint and sustaining our investments in operating capability development”, said Furqan Ahmed Syed, PCPPI president.
But despite the third quarter earnings growth, PCPPI said net income for the nine-month period “is still behind year-ago level as a result of higher depreciation/amortization and damages caused by Super Typhoon Yolanda.”
“We are proud to have been part of the Tanauan rehabilitation and rebuilding process. Our plant operations in Tanauan are fast coming back to normal,” Syed said.
PCPPI last month inaugurated its 12th manufacturing facility in Santo Tomas, Batangas.
Spanning over seven hectares, the P1.1-billion facility is initially operating two bottling lines, serving over 40,000 outlets in the Southern Tagalog region.
“Our new plant represents our renewed commitment in bringing everyday refreshment to the people of the Calabarzon and Mimaropa region. We are excited about the employment and livelihood opportunities that this expansion will bring to local communities,” said Jika Dalupan, PCPPI vice president for corporate affairs and communications.