Calata 2016 income up 7% to P165.4 M

MANILA, Philippines -  Agricultural products manufacturer Calata Corp. reported a net income of P165.45 million last year, up seven percent from the previous year.

In a regulatory filing, Calata said revenues fell four percent to P2.16 billion due to lesser sale of agro-products amid external factors such as risk of natural calamities.

The lower revenue was offset by the decrease in gross expenses.

“Last year, the Department of Agriculture reported a downward trend in the performance of agricultural sector in the first and fourth quarter due to super typhoons that hit major agricultural areas in the country.

A downward trend was also observed during the second quarter due to the drought phenomenon which is common during the summer season in the Philippines. These events affected the company’s sale of agro-products particularly in the Luzon area,” Calata said.

Sale of swine livestock, on the other hand, jumped 60 percent to P130.5 million while sale of meat products grew 33 percent to P93.4 million.