RFM posts strong Q1 financial results
MANILA, Philippines — Listed food and beverage company RFM Corp. is optimistic on its continued growth this year, with the company starting the year strong with robust first quarter earnings.
RFM CEO Joey Concepcion said the company is looking to grow revenues and income by mid to high single-digit numbers.
He said this year’s sustained growth would be supported by RFM’s ice cream, milk, pasta, flour, breads and mixes segments.
Last year, RFM saw a 12-percent increase in earnings to P1.4 billion, fueled by a five percent year-on-year acceleration in its top line to P21.7 billion.
For the first quarter, RFM said that unaudited preliminary numbers showed sustained expansion momentum as net income surged by 53 percent year-on-year to P309 million, with sales inching up by three percent to P4.5 billion.
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