Pepsi turns around with P298 million profit

MANILA, Philippines — Pepsi-Cola Products Philippines Inc. (PCPPI) reported a net income of P298.7 million in 2019, a reversal of the P199.5 million loss incurred the previous year.

PCPPI said gross sales increased by four percent to P40.1 billion.

The company credited its strong financial performance to its rationalized economic spending, management of manufacturing costs and improvements in operations.

For this year, the company is cutting down cost and has rationalized planned capital investments by 18 percent.

“Amidst the pandemic, we at PCPPI are steadfast in achieving our goals and are poised to reach bigger milestones as we started planning for the years ahead,” said PCPPI president Frederick Ong.

He said PCPPI realized early on the need to implement operational efficiencies. Thus, it steered the business toward greater optimization of work systems by establishing the strategic supply chain and operations.

Ong said the company developed three main guiding principles.

“The first is to help our employees cope safely during the quarantine or lockdown period. Second, to take action to support our community and partners across the country, and the third is to remain responsible in delivering our obligation in service to the Filipino people,” Ong said.

PCPPI implemented flexible work arrangements such as work from home practices.

As part of its COVID-19 response, the company also donated more than 165,000 bottles or around 9,000 cases of assorted drinks to hospitals and quarantine facilities and lent more than a hundred tents to LGUs for their checkpoints nationwide.